A magnetic recording medium capable of alleviating thermal fluctuation and improving the recording density includes a functional layer (12) containing a magnetic material, and a recording layer (11) overlying the functional layer and containing a magnetic material. The recording layer contains a plurality of magnetic grains (51) and a nonmagnetic material (52) existing among the magnetic grains, and the functional layer and the recording layer exert exchange coupling interaction in a direction making a substantially orthogonal relation with each other at the room temperature.