An oscillator element according to one embodiment of the present invention includes a magnetoresistive element having a magnetization free layer, magnetization fixed layer, and a tunnel barrier layer. Provided on the magnetization free layer are a protection layer and an electrode having a point contact section where the electrode is partially in electrical contact with the protection layers. An interlayer insulating film is provided between the electrode and the protection layer. The area of the interface between the magnetization free layer and the tunnel barrier layer is larger than the surface area of the point contact section. Moreover, a portion of the protection layer in contact with the interlayer insulating film has a smaller thickness in a surface normal direction than the portion of the protection layer in contact with the electrode.