A magnetic memory includes a substrate, a lower portion structure of a magnetic element, an upper portion structure of the magnetic element, and a sidewall insulating film. The lower portion structure of the magnetic element is a portion of the magnetic element provided on the upside of the substrate. The upper portion structure of the magnetic element is a remaining portion of the magnetic element provided on the upside of the lower portion structure of the magnetic element. The sidewall insulating film is provided to surround the upper portion structure of the magnetic element and is formed of an insulating material. That is, the lower portion structure of the magnetic element is formed from one layer or a plurality of layers on a side close to the substrate, among a plurality of laminated films of the magnetic element provided on the upside of the substrate. The upper portion structure of the magnetic element is formed from layers other than the lower portion structure of the magnetic element among the plurality of laminated films of the magnetic element. Also, the side of the upper portion structure of the magnetic element is electrically insulated from other portions by the sidewall insulating film. That is, it is possible to avoid a short-circuit.