The present invention relates to an anthrapyridone compound represented by the following Formula (1) ##STR00001## (wherein, R represents a hydrogen atom, an alkyl group, a hydroxy lower alkyl group, a cyclohexyl group, a mono- or dialkylaminoalkyl group or a cyano lower alkyl group, X represents a cross linking group, Y represents a phenoxy group having 1 or 2 carboxyl groups) in free acid form and a magenta ink composition comprising the same, and provides magenta coloring matter and a magenta ink composition which have hue with high vividness suitable for inkjet recording, gives good fastness to a recorded article and are excellent in storage stability.