A vertical thermoelectric conversion element comprising: a thermoelectric layer made of a thermoelectric material exhibiting a Seebeck effect, wherein one end portion of the thermoelectric layer is on a low temperature side, and the other end portion opposed to the low-temperature-side end portion is on a high temperature side; a magnetic body layer stacked on the thermoelectric layer , wherein the magnetic body layer has a magnetization component in a film thickness direction of the magnetic body layer , has conductivity, and generates a potential in a vector product direction of a temperature gradient direction and a magnetization direction of the magnetic body layer ; a low-temperature-side conductor part connecting a low-temperature-side end portion of the thermoelectric layer and a low-temperature-side end portion of the magnetic body layer , a high-temperature-side conductor part connecting a high-temperature-side end portion of the thermoelectric layer and a high-temperature-side end portion of the magnetic body layer ; and output terminals provided at both end portions of the magnetic body layer in the vector product direction, which are in the vector product direction of the temperature gradient direction (∇T) of the thermoelectric layer and the magnetization direction (M) of the magnetic body layer , for extracting a potential generated in the vector product direction; wherein the thermoelectric layer includes at least one kind of thermoelectric material selected from the group of thermoelectric materials including Bi 2 Te 3 , PbTe, Si, Ge, an Fe-Si alloy, a Cr-Si alloy, an Mg-Si alloy, a CoSb 3 alloy, an Fe 2 VAl-based Heusler's alloy, and SrTiO 3 . a thermoelectric layer made of a thermoelectric material exhibiting a Seebeck effect, wherein one end portion of the thermoelectric layer is on a low temperature side, and the other end portion opposed to the low-temperature-side end portion is on a high temperature side; a magnetic body layer stacked on the thermoelectric layer , wherein the magnetic body layer has a magnetization component in a film thickness direction of the magnetic body layer , has conductivity, and generates a potential in a vector product direction of a temperature gradient direction and a magnetization direction of the magnetic body layer ; a low-temperature-side conductor part connecting a low-temperature-side end portion of the thermoelectric layer and a low-temperature-side end portion of the magnetic body layer , a high-temperature-side conductor part connecting a high-temperature-side end portion of the thermoelectric layer and a high-temperature-side end portion of the magnetic body layer ; and output terminals provided at both end portions of the magnetic body layer in the vector product direction, which are in the vector product direction of the temperature gradient direction (∇T) of the thermoelectric layer and the magnetization direction (M) of the magnetic body layer , for extracting a potential generated in the vector product direction; wherein the thermoelectric layer includes at least one kind of thermoelectric material selected from the group of thermoelectric materials including Bi 2 Te 3 , PbTe, Si, Ge, an Fe-Si alloy, a Cr-Si alloy, an Mg-Si alloy, a CoSb 3 alloy, an Fe 2 VAl-based Heusler's alloy, and SrTiO 3 . <EOS>