A magnetic recording medium comprising a magnetic layer, a backing layer, and a support sandwiched between the magnetic layer and the backing layer. The backing layer is made form a coating composition comprising a filler, binder, and a silicone compound represented by the following formula (I): ##STR1## wherein groups A, B, and D each independently represent --CH.sub.3 or a group --X--Y--Z, in which X represents a C1-C11 alkylene or --(CH.sub.2).sub.3 NHCO--, Y represents a specific aliphatic group, alicyclic group, or an aromatic group, and Z represents --OH, m is an integer from 4 to about 150, and n is an integer from 1 to 6,the compound of formula (I) containing at least one --X--Y--Z group, with the ratio of the number of groups --X--Y--Z to m being from 1:3 to 1: about 30.