A magnetic recording medium includes a first underlying film of a NiTa alloy having a nonmagnetic amorphous structure and formed on a nonmagnetic substrate, and a second underlying film made of an alloy containing Cr and Ti, further a first magnetic film of a CoCrPt alloy, a nonmagnetic intermediate film of Ru and a second magnetic film of a CoCrPtB alloy that are serially formed over the first underlying film, wherein oxygen locally exists in an interface between the first underlying film and the second underlying film.