PURPOSE: To improve the dispersibility of magnetic powder and to obtain the titled recoding medium having excellent electromagnetic transducing characteristic and durability by forming a magnetic recording layer contg. polyester-polyol resin having a metallic sulfonate group as the binding agent component of magnetic powder on a nonmagnetic supporting body.

CONSTITUTION: A polyester-polyol resin expressed by the formula (R1 is the hydrocarbonic part of unsaturated dibasic acid such as maleic acid and fumaric acid, saturated dibasic acid such as phthalic acid and adipic acid, and polybasic acid such as trimellitic acid and may further have an OH, etc. for improving the dispersibility, R2 is the hydrocarbonic part of glycol such as ethylene glycol and polyhydric alcohol such as glycerine, and M is a metallic element such as Na and K) is incorporated into the binding agent component of magnetic powder along with other cellulose, fluororesin, polyurethane resin, etc. A magnetic recording layer is formed on a nonmagnetic supporting body by using said binding agent. The magnetic recording medium having excellent S/N, traveling stability, rigidity, etc. can be obtained in this way.