This paper presented an approach which combines space division and rules compression in an effort to allow the real-time updates and TCAM chips storage happening at the same time. In the approach, the TCAM chip was divided into two partitions, a real-time update area and a compression storage area. The former was assigned in the front of the chip for storing real-time updating rules sent by the controller, and the latter had the function of compressing and storing rules generated by the server within certain time period. We made a comprehensive analysis of the space division ratio and conducted simulation experiments on the rules generated by the ClassBench tool. The experiment results have demonstrated the effectiveness of the approach.