Magnetic recording medium

A magnetic recording medium comprising a nonmagnetic support having provided thereon a lower layer comprising nonmagnetic or ferromagnetic particles and a binder resin, and an upper layer provided on the lower layer comprising ferromagnetic metal particles and a binder resin, wherein both said lower layer and said upper layer contains as a lubricant a compound represented by the following formula (1) in an amount in said upper layer of 1% by weight or more based on the amount of the ferromagnetic metal particles contained in said upper layer:

• R.sup.1 --COO--R--OCO--R.sup.2 ( 1)
• wherein R is selected from the group consisting of a residue of a linear saturated diol containing from 1 to 10 carbon atoms, a residue of a branched saturated diol containing from 1 to 10 carbon atoms, and a residue of a linear unsaturated diol containing from 1 to 10 carbon atoms, or R represents ##STR4## and R.sup.1 and R.sup.2 are the same or different and each represents a chain unsaturated hydrocarbon group having from 12 to 26 carbon atoms.