A memory device is provided. The memory device includes a memory layer and a fixed-magnetization layer. The memory layer retains information based on a magnetization state of a magnetic material. The fixed-magnetization layer is formed on the memory layer through an intermediate layer made of an insulating material. The information is recorded on the memory layer with a change in a magnetization direction of the memory layer caused by injecting a spin-polarized electron in a stacked direction. A level of effective demagnetizing field, which is received by the memory layer, is smaller than a saturation-magnetization level of magnetization of the memory layer.