A thin-film magnetic oscillation element includes a pinned magnetic layer, a free magnetic layer, a nonmagnetic spacer layer provided between the pinned magnetic layer and the free magnetic layer, and a pair of electrodes, in which the easy axis of magnetization of the pinned magnetic layer lies in an in-plane direction of the plane of the pinned magnetic layer, and the easy axis of magnetization of the free magnetic layer lies in a direction normal to the plane of the free magnetic layer. Preferably, the relationship between the saturation magnetization Ms and the magnetic anisotropy field Ha of the free magnetic layer satisfies 1.257 Ms