The present invention provides a magnetoresistive (MR) element that is excellent in MR ratio and
thermal stability and includes at least one
magnetic layer including a ferromagnetic material M-X expressed by M100-aXa. Here, M is at least one selected from Fe, Co and Ni, X is expressed by X1bX2cX3d (X1 is at least one selected from Cu, Ru, Rh, Pd, Ag, Os, Ir, Pt and Au, X2 is at least one selected from Al, Sc, Ti, V, Cr, Mn, Ga, Ge, Y, Zr, Nb, Mo, Hf, Ta, W, Re, Zn and
lanthanide series elements, and X3 is at least one selected from Si, B, C, N, O, P and S), and a, b, c and d satisfy 0.05≦a≦60, 0≦b≦60, 0≦c≦30, 0≦d≦20, and a=b+c+d.