A magnetic recording medium is provided and includes a magnetic layer, a non-magnetic layer, a base layer and a back layer, wherein an average thickness tT of the magnetic recording medium is tT≤5.3 a dimensional change amount Δw in a width direction with respect to a change in tension in a longitudinal direction is 700 ppm/N≤Δw, a thickness of the non-magnetic layer is 2.0 μm or less, a squareness ratio measured in a vertical direction of the magnetic recording medium is 65% or more, and the magnetic layer includes a magnetic powder.