An optical information recording medium, especially a CD-RW medium, that can undergo direct overwriting at high speed is disclosed. The optical information recording medium includes a transparent substrate, at least a recording layer and a reflective layer on or above the substrate and is capable of performing at least one of recording, erasing and rewriting information by irradiating and scanning with focused light to thereby form and/or erase recording marks on the recording layer. The recording layer contains an alloy and/or an intermetallic compound mainly containing Ga, Ge, Sb, and Te in a compositional ratio represented by the following formula: Ga.sub.xGe.sub.y(Sb.sub.zTe.sub.1-z).sub.1-x-y wherein x, y, and z each represent an atomic ratio of a positive real number less than 1 and satisfy the following conditions: 0.02.ltoreq.x.ltoreq.0.06, 0.01.ltoreq.y.ltoreq.0.06, 0.80.ltoreq.z.ltoreq.0.86, x.gtoreq.y, and x+y.ltoreq.0.1.