A thermal transfer recording medium that is able to better suppress bleeding or scumming of an image and better suppress the occurrence of peeling lines or abnormal transfer during thermal transfer. The thermal transfer recording medium according to an embodiment includes a heat-resistant slip layer that is formed on one surface of a base material, an undercoat layer that is formed on the other surface of the base material, and a dye layer that is formed on a surface of the undercoat layer that is opposite from the surface that faces the base material; wherein the dye layer includes at least a thermally transferable dye, a first binder resin and a release agent; the release agent includes polyether-modified silicone oil and a perfluoroalkyl compound, and the ratio of the polyether-modified silicone oil and perfluoroalkyl compound, on the basis of a weight ratio, is within the range 9:1 to 6:4.