A magnetoresistive element that detects a change of magnetoresistance by giving a sense current in the thickness direction of a magnetoresistive effect film including at least a base layer, a free layer, a non-magnetic layer, a pinned layer, a pinning layer, and a protection layer, includes a granular structure layer that includes conductive particles and an insulating matrix material in the form of a thin film containing the conductive particles in a dispersed state and having a smaller thickness than the particle diameter of the conductive particles, the granular structure layer being interposed between at least two adjacent layers among the base layer, the free layer, the non-magnetic layer, the pinned layer, the pinning layer, and the protection layer.