A magnetic oscillation element includes a magnetization fixing layer whose magnetization direction is substantially pinned toward one direction, a nonmagnetic layer that is disposed on the magnetization fixing layer, and a magnetization free layer whose magnetization direction fluctuates. The magnetization free layer is disposed on the nonmagnetic layer. A pair of electrodes apply a current in a direction perpendicular to the film surface of the magnetization fixing layer, the nonmagnetic layer, and the magnetization free layer. The magnetization free layer is excited with a magnetization vibration caused by spin transfer from the magnetization fixing layer due to the appliance of the current.