To improve the recording capacity and to obtain the reproducing output of a magnetic recording signals and optical recording signals and a high signal-to-noise ratio by providing an optical recording layer and a magnetic recording layer in combination on the same surface of a base.

The magnetic recording medium having a nonmagnetic layer containing nonmagnetic pigments and a binder and a magnetic layer containing ferromagnetic powder and the binder in this order on at least one surface of a nonmagnetic base has a photosensitive layer containing an organic dye and nonmagnetic pigments between the nonmagnetic layer and the magnetic layer. The magnetic layer has a light transmittance of ≥30% at the absorption peak wavelength of the organic dye.