A magnetic recording medium with a greatly reduced coefficient of friction comprising a non-magnetic support having thereon a magnetic recording layer comprising finely divided ferromagnetic powders in a binder, wherein(1) at least one alkylpolysiloxane having a hydrophilic group in the side chain thereof and represented by the formula (I) ##STR1## wherein R.sub.1 and R.sub.2, which may be the same or different, each represents ##STR2## provided that R.sub.1 and R.sub.2 are not simultaneously --CH.sub.3 ; R.sub.3 represents --CH.sub.3 or the aliphatic chain having 10 to 18 carbon atoms of a saturated or unsaturated fatty acid; R.sub.4 represents --H or --CH.sub.3 ; Z represents an ionic group, which renders the alkylpolysiloxane water-soluble, selected from the group consisting of --OSO.sub.3 Na, --COOR.sub.5 wherein R.sub.5 is H, Na or K, and ##STR3## X REPRESENTS A NUMBER OF FROM 3 TO 50; Y REPRESENTS A NUMBER OF FROM 2 TO 50; Z REPRESENTS 0 OR A NUMBER OF FROM 1 TO 10; X+Y+Z IS A NUMBER OF FROM 5 TO 100; N IS 0 OR A NUMBER OF FROM 1 TO 5; P IS 0 OR A NUMBER OF FROM 1 TO 50; AND Q IS 0 OR A NUMBER OF FROM 1 TO 50; IS PRESENT IN THE MAGNETIC RECORDING LAYER IN AN AMOUNT OF ABOUT 5 WT% OR LESS BASED ON THE WEIGHT OF THE FERROMAGNETIC POWDERS AND(2) the magnetic layer has a Young's modulus of at least 1.times.10.sup.10 dyne/cm.sup.2.