A magnetic recording medium comprised of a support having a magnetic layer coated thereon is disclosed. The magnetic layer is comprised of a binder composition having a ferromagnetic powder dispersed therein. The binder composition is cured by an electron beam. The composition is comprised of 50 to 400 parts by weight of a compound having 2 or more acryloyl groups or methacryloyl groups in the molecule and 100 parts by weight of a mixture of 20 to 80 parts by weight of a thermoplastic resin having a thermal deformation temperature of 70.degree. C. or more and 20 to 80 parts by weight of a rubber type resin. The material has excellent electromagnetic properties after repeated use. Further, the medium has high physical strength and excellent wear resistance.