A magnetic recording medium containing a non-magnetic substrate, an orientation-determining layer for causing the non-magnetic undercoat layer assume to have a predominant orientation plane of (200), a non-magnetic undercoat layer, a magnetic layer, and a protective layer, in order, is disclosed. The non-magnetic undercoat layer 3 has a bcc structure; the orientation-determining layer has a crystal structure in which columnar fine crystal grains are inclined in a radial direction; and the ratio of a coercive force in a circumferential direction of the magnetic layer (Hcc) to a coercive force in a radial direction of the magnetic layer 4 (Hcr)is more than 1. The magnetic layer includes a plurality of magnetic films and having an hcp structure and a predominant orientation plane of (110), and permits antiferromagnetic bonding to be formed therebetween.