PURPOSE: To provide the magnetic recording medium which has excellent traveling stability without generating a traveling defect even if the quantity of air intrusion decreases on attaining of the traveling state in which the relative speed between a head and tape of a digital VTR, etc., exceeds 20m/s.

CONSTITUTION: This magnetic recording medium is used for a magnetic recording and reproducing system consisting in winding the long-sized magnetic recording medium on a rotary cylinder having a magnetic head and executing the recording and reproducing of signals. The average surface roughness Ra of the above-mentioned magnetic recording medium is within a 0.2 to 2.0nm range. The magnetic recording medium with which the distance (Peak-Valley value: P-V value) P (nm) between the peak and valley of the surface shape of the medium with respect to the relative speed v (m/s) of the head and medium satisfies a relation 2×P≥v exhibits an excellent traveling property at the relative speed of the head and medium as high as ≥20m/s.