Provided are a CCP (current confined path)-CPP (current-perpendicular-to-plane) type giant magneto-resistance (GMR) element having a giant magneto-resistance ratio in a low resistance region (a region of not more than 1 ohm per square micrometer) and a magnetic sensor using this GMR element. The CCP-CPP type GMR element A has a laminated structure of an anti-ferromagnetic layer, a magnetization pinned layer, an intermediate layer and a magnetization free layer, and is formed to have a construction in which a current flows perpendicularly to a film plane. By using an ultrathin magnesium oxide layer having micropores that is preferentially oriented in the (001) direction as the intermediate layer, the magneto-resistance ratio is enhanced, because a current flowing from the magnetization free layer to the magnetization pinned layer (or in the opposite direction) is confined by the metal in the micropores.