It is possible to obtain excellent heat stability even though the element is miniaturized and keep stable magnetic domains even though switching is repeated any number of times. A magneto-resistive effect element includes: a magnetization-pinned layer including a magnetic film having a spin moment oriented in a direction perpendicular to a film surface thereof and pinned in the direction; a magnetic recording layer having a spin moment oriented in a direction perpendicular to a film surface thereof; a nonmagnetic layer formed between the magnetization-pinned layer and the magnetic recording layer; and an anti-ferromagnetic film formed on at least side surfaces of the magnetization-pinned layer.