Disclosed herein are a magnetic tunnel junction (MTJ) structure with perpendicular magnetic anisotropy (PMA) and a magnetic element including the same. The MTJ structure with PMA includes a substrate, a perpendicular magnetic anisotropic inducing layer configured to be disposed on the substrate and including an oxide-based material, a perpendicular antiferromagnetic layer configured to be disposed on the perpendicular magnetic anisotropic inducing layer and including an antiferromagnetic material, a first ferromagnetic layer configured to be disposed on the perpendicular antiferromagnetic layer and having PMA, a tunneling barrier layer configured to be disposed on the first ferromagnetic layer, and a second ferromagnetic layer configured to be disposed on the tunneling barrier layer and having PMA. Therefore, the perpendicular antiferromagnetic layer generates perpendicular coupling at an interface with the perpendicular magnetic anisotropic inducing layer such that perpendicular coupling is further generated between the perpendicular antiferromagnetic layer and the first ferromagnetic layer.