Provided is a tunnel magnetoresistive effect element such that a high TMR ratio and a low write current can be realized, and the thermal stability factor (E/kBT) of a recording layer and a pinned layer is increased while an increase in resistance of the element as a whole is suppressed, thus enabling a stable operation. On at least one of a recording layer 21 and a pinned layer 22 each comprising CoFeB, electrically conductive oxide layers 31 and 32 are disposed on a side opposite to a tunnel barrier layer 10.