A magnetic recording medium having a high coercive force and a high signal to noise ratio suitable for use in a high density recording, and a method of manufacture thereof are provided, by using a resin substrate capable of processing approximately at room temperatures. A magnetic film mainly comprising ConullPtnullCr and including a silicon oxide is formed on the resin substrate wherein an amount of silicon element constituting the silicon oxide in terms of atomic percent relative to the ConullPtnullCr is 8 atomic % or more and 16 atomic % or less, thereby efficiently decreasing the inter-crystal interaction between crystal grains therein. Further, the magnetic film is formed on the substrate made of the resin in the non-heated state by sputtering in a sputtering chamber at a gas pressure of 0.133 Pa or more and 2.66 Pa or less.