A method of producing a coated magnetic recording medium comprises a step of coating a nonmagnetic substrate with a magnetic paste layer mainly composed of acicular or granular magnetic particles and a resin binder, a spontaneous drying step for a specific period for inducing leveling of coated surface and spontaneous volatilization of solvent without applying magnetic field from outside after coating the magnetic paint, a first orientation step for dissipating the aggregated particles by a sudden change in magnetic field while inducing magnetic moment in magnetic particles by a strong DC magnetic field inside the coated surface and in a longitudinal direction of the medium for arraying the magnetic particles in the coated surface in the longitudinal direction, and a successive second orientation step for suppressing the magnetic repulsive force among particles while arraying the magnetic particles by a DC magnetic field in the coated surface in the longitudinal direction.