A magnetic recording medium improved in durability over a wide range of temperature which comprises a substrate and a magnetic layer comprising magnetic powder and a resinous binder formed on the substrate, characterized in that the magnetic layer further comprises a monovalent alcohol ester of a fatty acid and a straight chain saturated fatty acid ester of not less than 28 carbon atoms in a weight proportion of 99:1 to 1:99 in a combined amount of 0.1 to 20 percent by weight based on the weight of the magnetic powder.