PURPOSE: To provide a magnetic recording medium which allows high density recording with excellent durability at low cost by constituting the Fe-Si-O magnetic film of a specific composition.

CONSTITUTION: On a substrate 1, an undercoat layer 2 for improving the adhesion of a magnetic layer 3 is provided and a metal thin film magnetic layer 3 is accumulated on the layer 2 by ion assist diagonal deposition device, for example, by evaporating Fe which has a purity of 99.95% or more in 10-4-10-6Torr vacuum atmosphere. Since a silicon ion and an oxygen ion are applied on the deposited Fe film, the film is permitted to be composed of Fe-Si- O and is controlled to have 60-90 atom % Fe, 5-30 atom % Si and 5-10 atom % O. Therefore, reasonable cost is allowed without environmental contamination which occurs when Co and Cr are used and a magnetic recording medium which allows excellent anticorrosion and high density recording is provided.