PURPOSE: To permit an excellent vertical magnetization of a magnetic layer and improve recording characteristics of a magnetic recording medium in a high- density range, by a method wherein uniaxially anisotropic needle-like magnetic powder having a particle diameter not larger than 0.3μ is contained in the magnetic layer on nuclear crystals and orientated so that both the vertical residual magnetic flux density and the horizontal residual magnetic flux density are not smaller than 1,000 gauss.

CONSTITUTION: Cobalt-containing iron oxide magnetic powder which is uniaxially asisotropic needle-like powder having a cobalt content of 4.9wt%, a coercive force of 910 oersted, a saturated magnetization amount of 77 emu/g and an angular type of 0.49 is employed to prepare a magnetic paint. The magnetic paint is applied onto a polyester base film by means of gravure coating. Then, the coating is smoothed by a magnetic smoothing method and is then treated in opposed magnetic fields of 3,000 gauss identical in polarity with each other to dry so that the magnetic powder will not be oriented, thereby to form a magnetic layer. Then, the formed magnetic layer is surface-treated and then cut to obtain a magnetic tape.