A magnetic random access memory includes a memory cell having a first magnetoresistive effect element, a reference cell having a second magnetoresistive effect element set in a low-resistance state, a first bit line connected to the memory cell, and set at a first bias potential in a read operation, a second bit line connected to the reference cell, and set at a second bias potential in the read operation, and a reference voltage generator including a reference current generator having a third magnetoresistive effect element set in the high-resistance state, and a current-voltage converter having a fourth magnetoresistive effect element set in the low-resistance state, the reference current generator generating a first electric current by applying the first bias potential to the third magnetoresistive effect element, and the current-voltage converter generating the second bias potential by supplying a second electric current to the fourth magnetoresistive effect element.