According to one embodiment, a magnetoresistive element includes first, second and third magnetic layers, and first and second nonmagnetic layers. The third magnetic layer has stack layers including a first stack layer close to the second magnetic layer, and a second stack layer far from the second magnetic layer. Each of the first and second stack layers includes a first layer made of a ferromagnetic material and a second layer made of a nonmagnetic material, and a first ratio of a film thickness of the first layer to that of the second layer in the first stack layer is higher than a second ratio of a film thickness of the first layer to that of the second layer in the second stack layer.