According to one embodiment, a magnetic memory includes a magnetoresistive element includes a fixed layer whose magnetization direction is fixed, a recording layer whose magnetization direction is variable and a nonmagnetic layer disposed between the fixed layer and the recording layer. A direction of a read current is set to a first direction in a case where an expression of MR ratio ≧|Ic+/Ic−|−1 is satisfied if a critical current of the first direction used to write the magnetoresistive element to the parallel state is set to Ic− and a critical current of a second direction used to write the magnetoresistive element to the anti-parallel state is set to Ic+.