The memory element has a structure at least including a first conductive layer, a second conductive layer, and a memory layer disposed between the first conductive layer and the second conductive layer. The memory layer is formed by a droplet discharge method using nanoparticles of a conductive material each of which is coated with an organic thin film. Specifically, a composition in which nanoparticles of a conductive material each of which is coated with an organic thin film are dispersed in a solvent is discharged (ejected) as ink droplets, and the solvent is dried to be vaporized to form the memory layer. Accordingly, a memory element can be formed simply. In addition, efficiency in the use of materials can be improved and yield is also improved, so that the memory element can be provided at low cost.