A magnetic recording medium has a nonmagnetic substrate having applied thereon through a nonmagnetic underlayer a magnetic recording layer composed of a magnetic metal material. The nonmagnetic substrate has a smooth surface with an average surface roughness Ra of not more than 20 Å, a recesses-and protrusions-forming layer having stripe-like protrusions and recesses in the circumferential direction, formed on the substrate. A CrP or CrMoP reinforcing coat layer having a hardness higher than that of the recesses-and protrusions-forming layer is sandwiched between the substrate and the recesses-and-protrusions-forming layer.