The invention provides a magnetoresistive device with the CPP (current perpendicular to plane) structure, comprising a nonmagnetic intermediate layer, and a first ferromagnetic layer and a second ferromagnetic layer stacked and formed with said nonmagnetic intermediate layer interposed between them, with a sense current applied in the stacking direction, wherein each of said first and second ferromagnetic layers comprises a sensor area joining to the nonmagnetic intermediate layer near a medium opposite plane and a magnetization direction control area that extends further rearward (toward the depth side) from the position of the rear end of said nonmagnetic intermediate layer; a magnetization direction control multilayer arrangement is interposed at an area where the magnetization direction control area for said first ferromagnetic layer is opposite to the magnetization direction control area for said second ferromagnetic layer in such a way that the magnetizations of the said first and second ferromagnetic layers are antiparallel with each other along the width direction axis; and said sensor area is provided at both width direction ends with biasing layers working such that the mutually antiparallel magnetizations of said first and second ferromagnetic layers intersect in substantially orthogonal directions. It is thus possible to obtain a magnetoresistive device that, while the magnetization directions of two magnetic layers (free layers) stay stabilized, can have high reliability, and can improve linear recording densities by the adoption of a structure capable of narrowing the read gap (the gap between the upper and lower shields) thereby meeting recent demands for ultra-high recording densities.