To provide a switching element having excellent operational stability and a high production yield, and a semiconductor device using the switching element, a switching element according to this invention includes a non-volatile resistive-change element, a rectifying element, and an insulating material. The non-volatile resistive-change element includes a first electrode, a second electrode, and a non-volatile resistive-change layer provided between the first electrode and the second electrode. The rectifying element includes the second electrode, a third electrode, and a volatile resistive-change layer provided between the second electrode and the third electrode. The insulating material is provided at least on the side surface of the third electrode.