The magnetoresistive effect element comprises an electrode layer 12 of a crystalline material; a base layer 14 of a conductive amorphous material formed over the electrode layer 12, an antiferromagnetic layer 18 of a crystalline material formed over the base layer 14, a ferromagnetic layer 20 formed over the antiferromagnetic layer 18 and having the magnetization direction defined by the antiferromagnetic layer 18, a nonmagnetic intermediate layer 22 formed over the ferromagnetic layer 20, a ferromagnetic layer 24 formed over the nonmagnetic intermediate layer 22 and having the magnetization direction changed by an external magnetic field, and an electrode layer 28 formed over the ferromagnetic layer 24.