A perpendicular magnetic recording medium includes a soft magnetic underlayer, an underlayer, an intermediate layer, and a perpendicular magnetic recording layer successively stacked on a nonmagnetic substrate. The soft magnetic underlayer includes a soft magnetic layer having an amorphous structure. The underlayer includes a first underlayer, and a second underlayer provided between the first underlayer and the intermediate layer. The first underlayer is made of a TiV alloy having an amorphous structure, and the second underlayer is made of an NiW alloy including at least one element selected from a group consisting of Co, Cu, Al, Cr, and Fe. The intermediate layer is made of Ru or an Ru alloy, and wherein the soft magnetic layer, the first underlayer, and the second underlayer are stacked in this order.