Abstract: A magnetic recording medium comprises a non-magnetic layer containing a non-magnetic powder abd a binder provided on a support, and a magnetic layer containing a ferromagnetic powder and a binder provided on the non-magnetic layer, wherein the magnetic layer contains a hexagonal ferrite magnetic powder having an average tabular diameter of 10 to 28 nm and has a coercive force (Hc) of 135 to 400 kA/m, a ratio (Hc/Hk) of the Hc to an anisotropic magnetic field (Hk) of 0.3 to 0.6, and a maximum value of &Dgr;M of 0 to 0.10.