A magnetic recording medium includes a substrate; a lower base layer formed on the substrate; and a (001) oriented L10 magnetic layer formed on the lower base layer and including a first magnetic layer formed on the lower base layer and having a granular structure of magnetic grains and a grain boundary portion, the grain boundary portion containing C, and a second magnetic layer formed on the first magnetic layer and having a granular structure of magnetic grains and a grain boundary portion, the grain boundary portion containing oxide or nitride, the second magnetic layer further containing one or more elements selected from a group consisting of Mg, Ni, Zn, Ge, Pd, Sn, Ag, Re, Au and Pb as an additive.