Some of Co-based full Heusler alloys have remarkable properties in spintronics, that is, high spin polarization of conduction electrons and low magnetic damping. Owing to these properties, magnetic tunnel junctions (MTJs) using Co-based full Heusler alloys are potentially of particular importance for spintronic application such as magnetoresistive random access memories (MRAMs). Recently, we have first demonstrated spin transfer torque (STT) switching and perpendicular magnetic anisotropy (PMA), which are required for developing high-density MRAMs, in full-Heusler Co2FeAl alloy-based MTJs. In this review, the main results of the experimental demonstrations are shown with referring to related issues, and the prospect of MTJs using Heusler alloys is also discussed.