Existing semi-supervised video object segmentation methods either focus on temporal feature matching or spatial-temporal feature modeling. However, they do not address the issues of sufficient target interaction and efficient parallel processing simultaneously, thereby constraining the learning of dynamic, target-aware features. To tackle these limitations, this paper proposes a spatial-temporal multi-level association framework, which jointly associates reference frame, test frame, and object features to achieve sufficient interaction and parallel target ID association with a spatial-temporal memory bank for efficient video object segmentation. Specifically, we construct a spatial-temporal multi-level feature association module to learn better target-aware features, which formulates feature extraction and interaction as the efficient operations of object self-attention, reference object enhancement, and test reference correlation. In addition, we propose a spatial-temporal memory to assist feature association and temporal ID assignment and correlation. We evaluate the proposed method by conducting extensive experiments on numerous video object segmentation datasets, including DAVIS 2016/2017 val, DAVIS 2017 test-dev, and YouTube-VOS 2018/2019 val. The favorable performance against the state-of-the-art methods demonstrates the effectiveness of our approach.