A magnetic recording medium is described, comprising a non-magnetic support having provided thereon a magnetic layer containing magnetic particles and a binder, wherein the magnetic particles comprise (1) ferromagnetic hexagonal crystallized tabular shape particles having an axis of easy magnetization in a direction vertical to the tabular plane thereof and (2) ferromagnetic ellipsoidal particles having an acicular ratio (length/width) of 1.5/1 to 10/1 and having a saturation magnetization of 60 emu/g or more.