There is disclosed a memory element including a layered structure including a memory layer that has magnetization perpendicular to a film face and a magnetization direction thereof varies corresponding to information; a magnetization-fixed layer that has magnetization that is perpendicular to the film face; and an insulating layer that is provided between the memory layer. An electron that is spin-polarized is injected in a lamination direction of the layered structure, and thereby the magnetization direction of the memory layer varies and a recording of information is performed with respect to the memory layer, a magnitude of an effective diamagnetic field which the memory layer receives is smaller than a saturated magnetization amount of the memory layer, and the memory layer and the magnetization-fixed layer have a film thickness in such a manner that an interface magnetic anisotropy energy becomes larger than a diamagnetic energy.