There is provided a memory element including a magnetic layer that includes at least one kind of element selected from a group consisting of Fe, Co, and Ni, and carbon, has a content of carbon that is equal to or greater than 3 atomic % and less than 70 atomic % with respect to a total content of Fe, Co, and Ni, and has magnetic anisotropy in a direction perpendicular to a film face; and an oxide layer that is formed of an oxide having a sodium chloride structure or a spinel structure and that comes into contact with the magnetic layer.