A magnetic recording medium having a recording layer made up of a ferrimagnetic material whose compensation temperature is included within room temperatures and an information recording-reproduction method using the magnetic recording medium. During recording, while a light beam is projected on the recording layer so as to raise the temperature of a recording portion, information is recorded by applying a signal magnetic field from a magnetic head. During reproduction, while a light beam is projected on a reproducing portion of the recording layer so as to raise the temperature thereof, information is reproduced by detecting leakage flux from the reproducing portion by the magnetic head. Thus, during reproduction, no magnetic flux is generated from other portions of the recording layer not irradiated by the light beam. With the arrangement, crosstalk due to leakage flux from adjoining tracks not irradiated by the optical beam can be eliminated. Therefore, track pitches can be made narrower so as to increase recording density of the magnetic recording medium. Further, since crosstalk from adjoining tracks is eliminated, a high S/N can be achieved.