Abstract: A magnetic recording medium which comprises a non-ferromagnetic substrate having two types of defects or irregularities formed thereon along a circumferential direction with different center line average roughnesses, on which a non-ferromagnetic metal film and a Co alloy ferromagnetic film are formed by sputtering in this order. The ferromagnetic film has such a crystal structure that a (200) plane is parallel to the surface of the substrate and a <011> orientation is toward a circumferential direction. Thus, the C axis of the ferromagnetic film is oriented toward the circumferential direction of the substrate. A method for fabricating the magnetic recording medium is also described wherein the distance between the substrate and the respective targets for the non-ferromagnetic metal film and the Cr alloy ferromagnetic film is set within a mean free path of sputtered particles and the substrate is heated to a temperature of from 150.degree. to 300.degree. C. when these films are formed by sputtering.