The present invention provides a write-once-read-many optical recording medium comprising a substrate, a recording layer comprising any one of bismuth and an oxide of bismuth, an overcoat layer and a reflective layer in this order from a laser beam incident plane, wherein the write-once-read-many optical recording medium has a reflectivity of 35% or less when a laser is applied to the flat part of the substrate or a write-once-read-many optical recording medium comprising a substrate, an undercoat layer, a recording layer comprising any one of bismuth and an oxide of bismuth, an overcoat layer and a reflective layer in this order from a laser beam incident plane, wherein the write-once-read-many optical recording medium has a reflectivity of 35% or less when a laser is applied to the flat part of the substrate.