A magnetic memory element includes a memory layer, a reference layer, and a spin-injection layer provided between the memory layer and the reference layer. The reference layer has a structure in which at least two CoPt layers containing 20 atomic % or more and 50 atomic % or less of Pt and having a thickness of 1 nm or more and 5 nm or less are stacked with a Ru layer provided therebetween. The thickness of the Ru layer is 0.45±0.05 nm or 0.9±0.1 nm. In addition, the axis of 3-fold crystal symmetry of the CoPt layers is oriented perpendicularly to the film surface. The reference layer includes a high spin polarization layer of 1.5 nm or less containing Co or Fe as a main component at an interface with the spin-injection layer.