A magnetic recording medium comprising a substrate, a first magnetic layer coated thereon having at least one recording track, and a second magnetic layer coated on the first magnetic layer, said magnetic layers being composed essentially of magnetic hexagonal ferrite particles and binder, and wherein the easy axes of the magnetic particles in the first magnetic layer in a zone adjacent to the surface of the substrate are oriented substantially in the recording track direction, and the easy axes of the magnetic particles in the second magnetic layer in a zone adjacent to the surface of the medium are oriented substantially perpendicular to the second layer's surface, and the easy axis of the magnetic particles changes in a continuous manner from substantially in the recording track direction to substantially in the perpendicular direction between said zones,said magnetic recording medium having the values of
- SQR.sub.x .gtoreq.0.50
- SQR.sub.y .ltoreq.0.35
- where SQR.sub.x is the squareness ratio of said magnetic layer in the recording track direction, SQR.sub.y is the intra-surface squareness ratio of said magnetic layer in the direction perpendicular to the recording track direction, and has the value of
- .gtoreq.3%
- wherein .alpha. is given by
- =I(006).times.100/I(%)
- wherein I is the peak intensities, I(hkl), of the (hkl) planes of said magnetic layer upon x-ray diffraction, defined by
- I=I(006)+I(110)+I(107)+I(114).