A storage element includes: a storage layer which has magnetization perpendicular to a film surface, the direction of the magnetization being changed in accordance with information; a magnetization fixed layer which has magnetization perpendicular to a film surface used as a base of information stored in the storage layer; and an insulating layer of a nonmagnetic substance provided between the storage layer and the magnetization fixed layer. In the storage element described above, the magnetization of the storage layer is reversed using a spin torque magnetization reversal generated by a current flowing in a lamination direction of a layer structure including the storage layer, the insulating layer, and the magnetization fixed layer to store information, the storage layer is directly provided with a layer at a side opposite to the insulating layer, and this layer includes a conductive oxide.