A magneto-optical recording medium comprising a light-transmitting substrate (1) on which a dielectric layer( 2), a memory layer (3) having perpendicular magnetic anisotropy, an intermediate layer (4) having in-plane magnetic anisotropy or slight perpendicular magnetic anisotropy, a recording layer (5) having perpendicular magnetic anisotropy, a dielectric layer (6), a metal layer (7), and a protective layer (8) are formed in a stacked form, the recording medium adapted to be magnetized for recording by a process comprising the step of modulating a first thermal condition and a second thermal condition according to a recording signal, wherein a stacked film (9) composed of the memory layer (3), the intermediate layer (4) and the recording layer (5) has a total thickness of from 100 to 150 nm, the dielectric layer (6) has a thickness of from 50 to 150 nm, and the metal layer (7) has a thickness of from 25 to 150 nm. The magneto-optical recording medium permits a recording laser light to be used with an increased power margin, without causing any increase in the laser power level. Where the thickness of the memory layer is set in the range from 20 to 70 nm, an enhanced reproduction signal output is obtained.