A magnetic tunnel junction (MTJ) is a key device in spintronics applications, such as magnetoresistive random access memory (MRAM). Current standard magnetic material for MTJs is a body-centered cubic (bcc) FeCo(B), which shows large tunnel magnetoresistance (TMR) and high perpendicular magnetic anisotropy (PMA), both are crucial for high-memory capacities MRAM. It is demanded that magnetic materials showing TMR as well as PMA higher than FeCo(B) for further advance. One of alternative magnetic materials may be bcc Co since past ab-initio studies predict that bcc Co show large TMR effect in MgO-barrier MTJs and large PMA due to magneto-elastic effect for those strained state. However, bcc Co is thermodynamically unstable; thus, it is aimed to explore metastable bcc Co based alloys with high stability. Here, we propose metastable bcc Co based alloy with adding both Mn and Fe as a candidate. We study in-plane magnetized MTJs utilizing metastable bcc CoMnFe films as electrodes and demonstrate large TMR effect of 350% at 300 K and of 1002% at 5 K. This experimental finding will open a route to advanced bcc Co based magnetic material for MRAM applications.