A magnetoresistive element according to an embodiment includes: a first ferromagnetic layer having an axis of easy magnetization in a direction perpendicular to a film plane; a second ferromagnetic layer having an axis of easy magnetization in a direction perpendicular to a film plane; a nonmagnetic layer placed between the first ferromagnetic layer and the second ferromagnetic layer; a first interfacial magnetic layer placed between the first ferromagnetic layer and the nonmagnetic layer; and a second interfacial magnetic layer placed between the second ferromagnetic layer and the nonmagnetic layer. The first interfacial magnetic layer includes a first interfacial magnetic film, a second interfacial magnetic film placed between the first interfacial magnetic film and the nonmagnetic layer and having a different composition from that of the first interfacial magnetic film, and a first nonmagnetic film placed between the first interfacial magnetic film and the second interfacial magnetic film.