The present invention provides a magnetoresistive element that includes a pair of magnetic layers and an intermediate layer between the magnetic layers. The intermediate layer contains at least three elements selected from Groups 2 to 17, and the elements include at least one selected from the group consisting of F, O, N, C and B. According to the invention, a magnetoresistive element with high magnetoresistance change ratio and low resistance can be provided. The invention also provides a method for producing a magnetoresistive element. The method includes forming a precursor and forming at least one part of the intermediate layer from the precursor. The precursor is reacted with at least one reactive species selected from the group consisting of oxygen atoms, nitrogen atoms and carbon atoms in a reactive atmosphere containing the reactive species.