To provide a heat-sensitive recording type magnetic material good in magnetic recording characteristics and heat-sensitive color developing properties, free from expansion of air in a heat-sensitive layer and excellent in prevention of adhesion of heat-sensitive head scum.

In the heat-sensitive recording type magnetic material provided with a magnetic recording layer containing magnetic powder and an adhesive agent as major components on a support, an intermediate layer containing a pigment and an adhesive agent as major components on the opposite side face of the support, and a heat-sensitive recording layer containing a colorless or light-colored electron-donating dye precursor and an electron-receiving compound which develops color in the dye precursor through a chemical reaction by heat, the intermediate layer is subjected to calendar treatment, having a void of 30 to 70 volume % and a solid coating amount of 4 to 20 g/m2, and the heat-sensitive recording layer is provided by being coated with an aqueous paint. Preferably, the intermediate layer contains an inorganic pigment having an oil absorption amount of 70 to 300 ml/100g, an organic pigment having through holes and organic hollow particles having opening parts or organic hollow particles substantially having no opening part.