A soft magnetic layer constituting a spin valve type magnetoresistance effect film comprises a multilayered body having at least two layers and including a first soft magnetic layer substantially made of Co or CoFe, and a second soft magnetic layer substantially made of NiFeX (wherein X represents at least one selected from Ta and Nb) in the order named from the side of a non-magnetic metal layer. More preferably, the soft magnetic layer comprises a multilayered body having at least three layers and including a first soft magnetic layer substantially made of Co or CoFe, a third soft magnetic layer substantially made of NiFe, and a second soft magnetic layer substantially made of NiFeX (wherein X represents at least one selected from Ta and Nb) in the order named from the side of the non-magnetic metal layer. Therefore, the detection sensitivity of a magnetic signal and the output of the magnetic head can be improved. Further, the linearity of the derived signal is also excellent.