According to one embodiment, a magnetic memory element includes: a magnetic wire, a stress application unit, and a recording/reproducing unit. The magnetic wire includes a plurality of domain walls and a plurality of magnetic domains separated by the domain walls. The magnetic wire is a closed loop. The stress application unit is configured to cause the domain walls to circle around along the closed loop a plurality of times by applying stress to the magnetic wire. The recording/reproducing unit is configured to write memory information by changing magnetizations of the circling magnetic domains as the domain walls circle around and to read the written memory information by detecting the magnetizations of the circling magnetic domains.