A metal chelate compound comprising a monoazo compound of the following formula (I): ##STR1## (wherein A is a residue forming a hetero ring together with the carbon atom and the nitrogen atom to which it is bonded, B is a residue forming an aromatic group together with the two carbon atoms to which it is bonded, and X is a hydrogen atom or a cation), and a metal, and an optical recording medium comprising a substrate and a recording layer formed thereon for information to be written in and/or read out by laser, wherein said recording layer contains the metal chelate compound comprising a monoazo compound of the above formula (I) and a metal.