A magnetic recording medium is provided that comprises a non-magnetic support and, in order thereabove, a radiation-cured layer cured by exposing a layer comprising a radiation curing compound to radiation, and a magnetic layer comprising a ferromagnetic powder dispersed in a binder, the radiation curing compound having a radiation curing functional group in the molecule and being derived from a diisocyanate that has a branched structure but does not have a cyclic structure.