There is provided a perpendicular magnetic recording medium which causes low media noise and achieves preferable read/write performance. A perpendicular magnetic layer is constructed such that first magnetic layers formed of Co or Co containing an oxide and second magnetic layers formed of Pt or Pd containing an oxide are layered. The perpendicular magnetic layer is provided on a non-magnetic substrate via a Ru underlayer containing oxygen. An alignment control layer formed of a Ni—Fe alloy is provided between the non-magnetic substrate and the underlayer to control the crystal alignment of the underlayer. A soft magnetic backing layer is provided between the substrate and the alignment control layer.