A magnetoresistive includes a magnetoresistive layer which converts magnetic signals to electric signals and a pair of electrodes for allowing an electrically sensing current to flow across the magnetoresistive layer is made between an upper shield and an under shield with upper gap layer and under gap layer intervening between the magnetoresistive layer and the shields. By using a multi-layered varistor film or films of a material such as ZnO, SiC, SrTiO, Si etc. in combination with an insulating material SiO2, A1203, etc. to connect the magnetoresistive element to the shields and interconnect both electrodes, a magnetoresistive head which withstands breakdown even if the insulating gap layers are made thinner is provided.