A magnetoresistive device includes: a magnetic recording layer including a first magnetic layer having perpendicular magnetic anisotropy, and a second magnetic layer having in-plane magnetic anisotropy and being exchange-coupled to the first magnetic layer, Curie temperature of the second magnetic layer being lower than Curie temperature of the first magnetic layer, and the magnetic recording layer having a magnetization direction perpendicular to a film plane; a magnetic reference layer having a magnetization direction which is perpendicular to a film plane and is invariable; and a nonmagnetic layer provided between the magnetic recording layer and the magnetic reference layer. The magnetization direction of the magnetic recording layer is changeable by spin-polarized electrons caused by flowing current between the magnetic recording layer and the magnetic reference layer in a direction perpendicular to the film plane.