Abstract: A magnetic recording medium is disclosed comprising a substrate coated with a mixture which consists essentially of (1) hexagonal plate-like shaped, ferrite magnetic powder particles having an average particle diameter of 0.2 .mu.m or less and (2) a binder resin having an active hydrogen equivalent of 2000 or more. This magnetic recording medium displays no flocculation of the hexagonal system ferrite magnetic powder, and has excellent dispersion properties and perpendicular orientation ability. Further, smoothness on the coating film is good, and S/N properties are noticeably improved.