A magnetic recording medium having a layer containing as a lubricant one or more organo-polysiloxane compounds having the following formula (I): ##STR1## (wherein each of A.sub.1 and A.sub.2 is independently --CH.sub.3, --CH.sub.2 --CH.sub.2 --(CF.sub.2).sub.q --CF.sub.3 or --R.sub.1 OCOR.sub.2 ; R.sub.1 is a divalent hydrocarbon residue having 1 to 5 carbon atoms; R.sub.2 is a monovalent hydrocarbon residue having from 7 to 21 carbon atoms; each of l, m and n is independently O or an integer ranging from 1 to 200; and each of p and q is independently O or an integer ranging from 1 to 12; provided that when at least one of the groups A.sub.1 and A.sub.2 is the group --R.sub.1 OCOR.sub.2, each l, m and n may be O and that, when each group A.sub.1 and A.sub.2 is one of the groups other than the group --R.sub.1 OCOR.sub.2, each l and m may be O and n is an integer ranging from 1 to 200).