Disclosed is a magnetic recording medium having a magnetic layer comprising a vinyl chloride copolymer as a binder and a magnetic powder and formed on a non-magnetic support. The vinyl chloride copolymer contains a hydroxyl group and a quaternary ammonium salt, wherein the hydroxyl group is derived from a monoallyl or monomethallyl ether of a polyhydroxyl compound, or a monoallyl or monomethallyl thioether of a polyhydroxyl compound. The vinyl chloride copolymer may further contain a hydrophilic group derived from at least one monomer which is selected from carboxylic acids, sulfur-containing acids, phosphorus-containing acids and salts thereof.