A magnetoresistive element according to an embodiment includes: a first magnetic layer; a second magnetic layer; and a first nonmagnetic layer disposed between the first magnetic layer and the second magnetic layer, wherein the second magnetic layer includes a magnetic material containing at least one element selected from a first group consisting of Mn, Fe, Co, and Ni; at least one element selected from a second group consisting of Ru, Rh, Pd, Ag, Os, Ir, Pt, and Au; and at least one element selected from a third group consisting of Eu, Gd, Tb, Dy, Ho, Er, Tm, Yb, and Lu.