A magnetic recording medium having at least two magnetic layers is disclosed, comprising first and second mangetic layers which are successively formed in order on a nonmagnetic support, wherein a coercive force (Hc) of said second magnetic layer is 5.times.10.sup.4 to 1.5.times.10.sup.5 A/m, a ratio (Br/Hc) of a residual magnetic flux density (Br) of said second magnetic layer to the coercive force (Hc) is 2.0.times.10.sup.-6 H/m or more, SFD of said second magnetic layer is 0.6 or less, an average length in the long axis of magnetic particles in said second magnetic layer is 0.25 microns or less, a center line average surface roughness (Ra) of said second magnetic layer is 1/10 or less of the average length in the long axis of the magnetic particles, and a coercive force (Hc') of said first magnetic layer is 2.times.10.sup.4 to 1.times.10.sup.5 A/m.