The magnetic recording medium includes a non-magnetic support; and a magnetic layer including a ferromagnetic powder, in which one or more kinds of component selected from the group consisting of a fatty acid and a fatty acid amide are included in a portion of the magnetic layer side on the non-magnetic support, and a C—H derived C concentration calculated from a C—H peak surface area ratio in C1s spectra obtained by X-ray photoelectron spectroscopic analysis performed on a surface of the magnetic layer at a photoelectron take-off angle of 10 degrees, after pressing the magnetic layer at a pressure of 70 atm is 45 atom % or more.