A biaxially oriented laminate polyester film for magnetic recording medium, which is a laminate film comprising a base layer (A) formed of a polyester resin and a coating layer (B) which exists on one surface of the base layer (A) and contains a binder resin, added fine particles and a surfactant, wherein the base layer (A) is a biaxially oriented film which substantially contains no fine particles added or contains 0.001 to 0.1% by weight of added fine particles having an average particle diameter of 0.005 to 0.3 &mgr;m, the coating layer (B) has a surface having a central plane roughness (SRa) of 5 nm or less, the surface of the coating layer (B) has protrusions having a major diameter of 0.05 &mgr;m or more in a density of 80,000 pieces/mm2 or less and has extra-large protrusions having a major diameter of 10 &mgr;m or more in a density of 20 pieces/cm2 or less. Further, a thin film layer (C) may be further laminated on a surface on the side of the base layer (A) of the laminate polyester film which side is not in contact with the coating layer (B). According to the present invention, there is provided a biaxially oriented laminate polyester film useful as a base film for a magnetic recording medium which has excellent running durability and electromagnetic conversion characteristics and is almost free from drop-out.