Provided is a magnetic recording medium with which a decrease in electromagnetic conversion characteristics can be suppressed. This magnetic recording medium has a tape shape and comprises a base body including a
polyester, an underlayer provided on the base body, and a
magnetic layer provided on the underlayer and containing a
magnetic powder. The magnetic recording medium includes a
lubricant. The arithmetic average roughness Ra of the surface of the
magnetic layer is 1.3 nm or less. In a case where, when the magnetic recording medium is caused to slide on the glass-made simulated head, the average value of peak half-widths in a space increase region generated on an inlet side of a glass-made simulated head to which the magnetic recording medium is inserted is defined as a space index SRL, and when the magnetic recording medium is caused to slide on the glass-made simulated head, the average value of peak half-widths in a space increase region generated in the vicinity of a widthwise edge of the magnetic recording medium is defined as a space index SRT, the space index SRL is 35 μm or less, and the space index SRT is 68 μm or less.