A manufacturing method for a magnetic recording medium having on a non-magnetic substrate, at least a soft magnetic undercoat film comprising a soft magnetic material, an orientation control film for controlling an orientation of a film directly above, a perpendicular magnetic film in which an axis of easy magnetization is oriented mainly perpendicularly with respect to the substrate, and a protection film,
- wherein the perpendicular magnetic film is made to have a structure in which a large number of magnetic grains are separated by a grain boundary layer, and an average separating distance between the magnetic grains along straight lines which connect centers of gravity of mutually neighboring magnetic grains is 1 nm or greater.