Provided is a magnetic recording medium which maintains high S/N ratio and coercive force (Hc) and has high recording density, even with fine magnetic particles, by further improving crystal orientation of a magnetic recording layer. The magnetic recording medium is provided with an orientation control layer (16), a nonmagnetic under layer (18), and a magnetic recording layer (22) on a substrate. The orientation control layer (16) has an fcc structure and a (111) plane parallel to the substrate. The under layer (18) has an hcp structure and a (0001) plane parallel to the substrate. An atomic distance of the (111) plane of the orientation control layer (16) is −0.2 Å to +0.15 Å to a lattice spacing of the under layer (18).