A magnetoresistance element, wherein a first electric conductor is so formed as to contact almost the center of the surface opposite to a non-magnetic layer of a first ferromagnetic layer so formed as to sandwich, along with a second ferromagnetic layer, the non-magnetic layer, and an insulator so formed as to cover at least the side surface of the first ferromagnetic layer and the non-magnetic layer is formed so as to cover the peripheral edge of the surface of the first ferromagnetic layer, whereby it is possible to prevent a leakage current from flowing from the first electric conductor to a second electric conductor along the side surfaces of the first ferromagnetic layer, the non-magnetic layer and the second ferromagnetic layer, and to make uniform a bias current running from the first electric conductor to the second electric conductor to thereby restrict variations in magnetoresistance characteristics such as MR value and junction resistance.