PURPOSE: To improve abrasion resistance, slip properties and the transfer to printing ink, in a thermal recording medium wherein a magnetic recording layer, a metal membrane layer and a protective layer are laminated on a non- magnetic substrate, by adding acid modified polyalkylene wax and a thermosetting resin to the protective layer.

CONSTITUTION: A thermal recording medium 1 is constituted by successively laminating a magnetic recording layer 3, a metal membrane layer 4 and a protective layer 5 on a non-magnetic substrate 2. In this case, acid modified polyalkylene wax and a thermosetting resin are respectively added to the protective layer. By utilizing acid modified polyalkylene wax being a lubricant solid at the normal temp., the flotation of the lubricant to the surface layer is eliminated and the transfer properties of UV printing ink are improved and slip properties and abrasion resistance are also improved. Further, the chemical resistance due to the thermosetting resin is enhanced and the physical characteristics as the thermal recording medium are enhanced.