A magnetic memory includes a plurality of magnetoresistive elements which include a fixed layer in which a magnetization direction is fixed, a free layer in which a magnetization direction changes, and a nonmagnetic layer formed between the fixed layer and the free layer, and a word line electrically connected to the magnetoresistive elements. Data erase is performed by setting the magnetization direction of the free layer in a first direction by a magnetic field induced by a current flowing through the word line, and data of the magnetoresistive elements are erased by one time data erase. Data write is performed by setting the magnetization direction of the free layer in a second direction by spin-transfer magnetization reversal by supplying a current in one direction to the magnetoresistive elements.