PURPOSE: To stabilize Fe ions, to product the surface of a magnetic powder and to enhance oxidation resistance, storage stability, and dispersibility into a binder by incorporating a specified N-contg. cyclic compd. in a magnetic layer contg. an Fe-contg. magnetic material and a binder.

CONSTITUTION: A magnetic coating material contains a magnetic material and on its basis 0.1W10wt% 1,10-phenanthroline, 8-hydroxyquinoline, or the like represented by formula I in which R1 and R2 acrylize with each other and form a condensed ring, such as optionally substd. benzene ring; R3 is H or OH; R4 is H, alkyl, carboxy, or its salt, pyridyl, optionally substd. amino, OH, sulfo, or its salt; and R5 is H, alkyl, carboxy, or its salt. The recording medium is obtained by coating a supporting film with said coating material, while a magnetic field is impressed, and drying it. The medium thus obtained is protected on the surface of Fe-type magnetic material, enhanced in oxidation resistance, and it is superior in dispersibility and electromagnetic conversion characteristics, too.