According to one embodiment, a magnetic memory including an isolation region with an insulator in a trench is disclosed. The isolation region defines active areas extending in a 1st direction and having 1st and 2nd active areas, an isolation region extending in a 2nd direction perpendicular to the 1st direction exists between the 1st and 2nd active areas. 1st and 2nd word lines extending in the 2nd direction are buried in a surface of semiconductor substrate. 1st and 2nd select transistors connected to the word lines are on the 1st active area. 1st and 2nd variable resistance elements connected to drain regions of the 1st and 2nd select transistors are on the 1st active area.