A fluorinated polyether compound represented by the following general formula (1): X-(Rf1)-(CF2)x-(CH2)y-{CHR-CH2}z1-Y1-Z1 or (1'): Z2-Y2-{CH2-CHR}z2-(CH2)y-(CF2)x-(Rf2)-(CF2)x-(CH2)y-{CHR-CH2}z3-Y3-Z3, a lubricating oil, and a magnetic recording medium containing the oil, wherein Rf1 and Rf2 represent each a fluorinated polyether group, perfluoroalkyl group or perfluoroalkenyl group; and Z1, Z2 and Z3 represent each a member selected from among groups containing organic free radicals represented by formulae (5) to (7).