A magnetic recording apparatus comprising a perpendicular recording medium, a recording head for perpendicular magnetization the perpendicular magnetization film of the recording medium, to thereby recording signals on the recording medium, and a reproducing head of magnetoresistance type for reading signals from the recording medium. The medium comprises a substrate, an underlayer formed on the substrate, and a perpendicular magnetization film formed on the substrate and having a crystal phase of a CoPt-based alloy and a compound phase of material selected from the group consisting of Co oxide, Co nitride and Co carbide.