A magnetic recording medium which comprises a non-magnetic substrate, a magnetic recording layer formed on one side of said substrate, and a back coat layer formed on the other side of the substrate. The back coat layer is made of a composition which comprises particles of carbon black, titanium monoxide or a mixture thereof having an average size not larger than 1 micrometer and a resin binder dispersing the particles therein. The particles are individually precoated with an isocyanate compound. When coated titanium monoxide particles are used singly, non-coated carbon black is effectively used in combination.