According to one embodiment, a magnetoresistive element is disclosed. The magnetoresistive element includes a reference layer. The reference layer includes a first region, and a second region provided outside the first region to surround the same. The second region contains an element contained in the first region and another element being different from the element. The magnetoresistive element further includes a storage layer, and a tunnel barrier layer provided between the reference layer and the storage layer. The storage layer is free from the another element.