The present invention provides an apparatus and a method for producing a magnetic recording medium, which are free from base film breakage, capable of running a base film stably during a vapor deposition preparation stage and a vapor deposition step, and excellent in production efficiency. The production apparatus comprises a supply roll 14 for delivering a non-magnetic substrate 1, a rotary cooling drum 20, a crucible 17 housing a vapor deposition material 18, a maximum incident angle regulating mask 21A for regulating a maximum incident angle of an evaporated vapor deposition material to the non-magnetic substrate, a minimum incident angle regulating mask 21B for regulating a minimum incident angle, a pair of edge portion regulating masks 21C and 21D for regulating deposition on both edges in a width direction of the non-magnetic substrate 1 surface, a shutter 23 capable of opening and closing an aperture among masks 21A, 21B, 21C, and 21D, and a winding roll 16, wherein the edge portion regulating masks 21C and 21D are provided in such a manner as to keep a distance dA between ends on upstream side of the edge portion regulating masks and the cooling drum 20 larger than a distance dB between ends on downstream side of the edge portion regulating masks and the cooling drum 20.