A magnetic recording medium and a method for manufacturing the same are provided, which provide high surface recording density and high recording/reading performance. The magnetic recording medium is manufactured by forming an intermediate protective layer between a continuous recording layer and a mask layer, dividing the continuous recording layer to form divided recording elements and removing the mask layer while leaving the intermediate protective layer on the top of the divided recording elements. Further, gaps between the divided recording elements are filled with a non-magnetic material while leaving the intermediate protective layer on the top of the divided recording elements.