A magnetic recording medium containing a magnetic recording layer with a coercivity squareness ratio of 0.4 to 0.9 is produced by magnetic transfer, for which a magnetic field is applied to an unrecorded magnetic recording medium while maintaining a patterned side of the patterned master medium in close contact with the magnetic recording layer for magnetic transfer. At least portions of the patterned side are made of a soft-magnetic material, and the pattern formed on the patterned side has a bit length of 60 nm or smaller. It is possible to arrange the magnetic recording layer to have a coercive force of 398 kA/m or greater, reduce the bit length to 55 nm or smaller, and heat the magnetic recording layer to 100° C. or higher during application of the magnetic field.