A method for manufacturing a magneto-optical recording medium in which reading of recorded information is performed through domain wall displacement in a reproduction layer is provided, in which magnetic separation of groove side-wall portions is performed more reliably; as a result a magneto-optical recording medium with satisfactory recording and reproduction characteristics can be provided. The method is to manufacture a magneto-optical recording medium in which on a substrate 1 having grooves 12 at least a reproduction layer and a recording layer, each of which is formed of magnetic layers, are deposited and recorded information is reproduced through domain wall displacement in the reproduction layer; and the method includes a first annealing process in which, after depositing at least the reproduction layer and recording layer on the substrate 1 on which are formed lands 11 and grooves 12, only side-wall portions 13 between adjacent lands 11 and grooves 12 are irradiated with laser light L1, and a second magnetization annealing process in which regions including adjacent side-wall portions 13 and lands between side-wall portions 13 are irradiated with laser light L2 having a spot diameter greater than the spot diameter of the laser light in the first annealing process, while applying an external magnetic field H.sub.ex.