PURPOSE: To obtain a magnetic recording medium having good orientation properties (square ratio) and an excellent display property after orientation by making the intensity of a magnetic field increasingly smaller toward the rear stage and performing successively drying from the initial stage.

CONSTITUTION: A substrate 1 provided thereon with an undried magnetic liquid coating layer 2 is continuously run over a pass roll 3 in an arrow direction and is subjected to orienting and drying in an orienting section and drying section. The orienting section in this embodiment is divided to front orienting sections 4, 5 and rear orienting sections 6, 7, and drying sections 8, 9 are provided between both. The magnetic field in the sections 6, 7 is set smaller than the magnetic field in the sections 4, 5. The layer 2 in an undried state is oriented in the sections 4, 5. Dry air is blown onto the coated layer in the drying section and while the layer is dried, the layer is oriented in the rear orienting sections. The drying section consists of, for example, an air feed duct 8 and an evacuation duct 9, and cold air and the warm air higher than a room temp. is fed through the duct 8 onto the coated film, thereby removing partly the solvent in the coating liquid. The condition under which the coated film is prevented from drying at just before the substrate enters the rear orienting sections is selected according to the formulation of the coating liquid.