Abstract: A laser beam is focused onto a substrate for texturing the substrate surface to form a multiplicity of microscopic bumps thereon, wherein the laser beam to be focused is continuously modulated at an I.sub.max /I.sub.min ratio in the range from 10 to 100 wherein I.sub.max is the maximum amplitude of pulse oscillating laser beam output and I.sub.min is the minimum amplitude of pulse oscillating laser beam output, while the minimum output of the laser beam is controlled to a level lower than the minimum energy required for creating the microscopic bumps. A magnetic recording medium having good CSS characteristics can be produced at a high production rate from the laser-textured substrate.