A magnetic element including a magnetoresistive effect film (MEF). Magnetic element includes an MEF and nonmagnetic spacer layer, first and second ferromagnetic layers, wherein layers being disposed with nonmagnetic spacer layer interposed therebetween, pair of electrodes disposed with MEF interposed therebetween in stacking direction of MEF at least two first soft magnetic layers, coil, and second soft magnetic layer magnetically connected to coil, wherein second soft magnetic layer has ring-like shape, spacing distance between second soft magnetic layer and MEF is larger than first soft magnetic layer and MEF, film thickness of second soft magnetic layer is larger than first soft magnetic layer, part of the two first soft magnetic layers overlaps a part of second soft magnetic layer in stacking direction of MEF, first and second soft magnetic layers are magnetically coupled to each other, and MEF is disposed between respective fore ends of two first soft magnetic layers.