A magnetic recording medium, which is used in a recording and playback device in which the shortest recording wavelength is 75 nm or less, in which the magnetic recording medium has a recording layer including powder of ε-iron oxide-containing particles, the average particle size of the particles is 22 nm or less, the coercive force He is 220 kA/m or more and 320 kA/m or less, and the non linear transition shift is 20% or less.