According to one embodiment, a magnetic recording and reproducing device includes a magnetic recording medium, and a magnetic head including a first reproducing unit. The first reproducing unit includes a first magnetic field generator separated from the magnetic recording medium in a first direction, and a first stacked body. At least a portion of the first stacked body is provided between the magnetic recording medium and the first magnetic field generator in the first direction. The first stacked body includes a first magnetic layer, a second magnetic layer separated from the first magnetic layer in a second direction crossing the first direction, and a first intermediate layer provided between the first magnetic layer and the second magnetic layer. The first stacked body performs an operation of generating a first alternating magnetic field. The first magnetic field generator generates a first magnetic field.