A CPP-type magnetoresistive element including a fixed magnetization layer, a non-magnetic metal layer, and a free magnetization layer that are stacked, and a diffusion prevention layer is disclosed. The free magnetization layer includes CoMnAl. The diffusion prevention layer is provided between the non-magnetic metal layer and the free magnetization layer so as to prevent Mn included in the free magnetization layer from diffusing into the non-magnetic metal layer. CoMnAl has a composition within the area formed by connecting Point A (44, 23, 33), Point B (48, 25, 27), Point C (60, 20, 20), Point D (65, 15, 20), Point E (65, 10, 25), Point F (60, 10, 30), and Point A with straight lines in this order in a ternary composition diagram where coordinates of the composition are expressed as (Co content, Mn content, Al content) with each of the Co, Mn, and Al contents being expressed in atomic percentage.