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A spin tunneling magnetoresistive film 110, which comprises a first magnetic film 111, a tunnel film 112 and a second magnetic film 113, is formed on a substrate 101, and on the top surface of the spin tunneling magnetoresistive film 110 a resist film 102 having a desired shape is formed. The magnetic films 111, 113 are each an alloy film of a rare earth metal-transition metal. The spin tunneling magnetoresistive film 110 is plasma etched by using a mixed gas of carbon monoxide gas and ammonia gas. A sidewall substance 103 adhering to a side surface of the spin tunneling magnetoresistive film 110 is oxidized or nitrided by performing plasma etching by use of oxygen gas or nitrogen gas.