A magnetic recording medium comprises: a non-magnetic base film; and a magnetic recording layer comprising a binder resin and black magnetic acicular composite particles having an average particle diameter of 0.051 to 0.35 μm, comprising magnetic acicular cobalt-coated iron oxide particles or magnetic acicular metal particles containing iron as a main component, a coating formed on surface of the magnetic acicular particles, comprising at least one organosilicon compound selected from the group consisting of: (1) organosilane compounds obtainable from alkoxysilane compounds, and (2) polysiloxanes or modified polysiloxanes, and a carbon black coat formed on the coating layer comprising said organosilicon compound, in an amount of from more than 10 to 40 parts by weight based on 100 parts by weight of said magnetic acicular particles. Such a magnetic recording medium exhibits not only a smooth surface, a smaller light transmittance and a lower surface electrical resistivity value, but also a small friction coefficient and an excellent running durability.