A magnetic recording medium is described, comprising a non-magnetic support having thereon a magnetic layer containing ferromagnetic particles dispersed in a binder, the ferromagnetic layer containing abrasive agent particles alone or in combination with lubricating agent particles, wherein the weight ratio of (a) the abrasive agent particles which are present, or each of the abrasive agent particles and lubricating agent particles which are present, within 1 .mu.m in a thickness direction from the surface of the magnetic layer to (b) the abrasive agent particles or each of the abrasive agent particles and lubricating agent particles which are present, within the whole magnetic layer is at least 100/(thickness of the magnetic layer -1) % in which the "thickness of the magnetic layer" represents the thickness in ".mu.m" and is 2 .mu.m or more.A method for preparing a magnetic recording medium comprising: coating on a non-magnetic support a first coating composition having ferromagnetic particles dispersed in a binder, and simultaneously or successively coating thereon a second coating composition having a binder in which there is despersed abrasive agent particles alone or in combination with lubricating agent particles.