Abstract: A magnetic recording medium includes a non-magnetic granular layer, and a recording layer provided on the non-magnetic granular layer, wherein the recording layer includes a first granular magnetic layer provided on the non-magnetic granular layer, and a second granular magnetic layer provided on the first granular magnetic layer, and a non-magnetic material magnetically separating metal grains of the non-magnetic granular layer is different from a non-magnetic material magnetically separating magnetic grains of the first granular magnetic layer.