A magnetoresistive element includes a channel layer, a first ferromagnetic layer, a second ferromagnetic layer, and a reference electrode. The first ferromagnetic layer, the second ferromagnetic layer, and the reference electrode are apart from each other and are electrically connected to each other through the channel layer. The average resistivity of a sixth region composed of a first region, a second region, and a fourth region is higher than the average resistivity of a seventh region composed of the second region, a third region, and a fifth region.