The invention provides a magnetic recording medium including a magnetic layer or a magnetic recording layer having a granular structure in which magnetic crystal grains are well separated from each other. The magnetic recording medium includes a substrate, a seed layer, and a magnetic recording layer, wherein the magnetic recording layer includes a first magnetic layer which is a continuous film consisting of an ordered alloy, and a second magnetic layer having a granular structure consisting of magnetic crystal grains consisting of an ordered alloy and a non-magnetic crystal grain boundary, and the seed layer consists of a material selected from the group consisting of an NaCl-type compound, a spinel-type compound, and a perovskite-type compound.