A magnetic memory element having a Ru hard mask layer. The use of Ru advantageously allows for closer spacing of adjacent magnetic memory elements leading to increased data density. In addition, the use of Ru as a hard mask reduces parasitic electrical resistance by virtue of the fact that Ru does not oxidize in ordinary manufacturing environments. The magnetic memory element can be formed by depositing a plurality of memory element layers, depositing a Ru hard mask layer, depositing a RIEable layer over the Ru hard mask layer, and forming a photoresist mask over the hard mask layer. A reactive ion etching can be performed to transfer the image of the photoresist mask onto the RIEable layer to form a RIEable mask. An ion etching can then be performed to transfer the image of the RIAable mask onto the underlying Ru hard mask and underlying memory element layers.