According to one embodiment, a magnetoresistance effect element includes a first shield, a second shield, a stacked unit, and a hard bias unit. The stacked unit includes a first magnetic layer provided between the first shield and the second shield, a second magnetic layer provided between the first magnetic layer and the second shield, and an intermediate layer provided between the and second magnetic layers. The hard bias unit is provided between the first shield and the second shield to be arranged with the stacked unit. A crystal orientation plane of the first magnetic layer in a film surface perpendicular direction is a cubic (110) plane. The first magnetic layer includes a first stacked body including a first Fe layer and a first Co layer stacked along the first direction, and a first Heusler alloy layer stacked with the first stacked body along the first direction.