A heat-assisted magnetic recording medium includes: a substrate; an underlayer; and a magnetic layer that is (001)-oriented. In the magnetic layer, a first magnetic layer and a second magnetic layer are stacked in this order from the underlayer side. The first magnetic layer and the second magnetic layer include an alloy having an L10 structure. The second magnetic layer includes a ferrite at grain boundaries of magnetic grains. The ferrite is one or more kinds selected from the group consisting of NiFe2O4, MgFe2O4, MnFe2O4, CuFe2O4, ZnFe2O3, CoFe2O4, BaFe2O4, SrFe2O4, and Fe3O4. A Curie temperature of the magnetic grains is lower than a Curie temperature of the ferrite.