A memory element capable of simultaneously satisfying the number of repeating operation times and a low-voltage operation characteristic which are in a tradeoff relation is provided. The memory element has a high-resistivity layer and an ion source layer between a bottom electrode and a top electrode. The high-resistivity layer is made of an oxide containing Te. Any of elements other than Te such as Al, Zr, Ta, Hf, Si, Ge, Ni, Co, Cu, and Au may be added. In the case of adding Al to Te and also adding Cu and Zr, the composition ratio of the high-resistivity layer is preferably adjusted in the ranges of 30≦Te≦100 atomic %, 0≦Al≦70 atomic %, and 0≦Cu+Zr≦36 atomic % except for oxygen. The ion source layer is made of at least one kind of metal elements and at least one kind of chalcogen elements of Te, S, and Se.