A magnetic recording material having superior abrasion resistance and thermal stability is produced by coating a magnetic coating composition consisting essentially of aqueous emulsions of at least two resin binders capable of reacting with each other upon mixing, and being present therein in the separated state, and a ferromagnetic powder on a non-magnetic support, drying the coating, and curing the resulting magnetic recording layer where drying is insufficient to effect curing. Hazards ascribable to the use of organic solvents in conventional techniques can be obviated by this invention.