[Solving Means] A magnetic recording medium according to an embodiment of the present technology is a tape-shaped magnetic recording medium, including: a magnetic layer including a servo band, a servo signal being recorded on the servo band. An index expressed by Sq×Fact.(p−p)/F0(p−p) is 0.42 or more, Sq being a squareness ratio of the magnetic layer in a perpendicular direction, F0(p−p) being a peak-to-peak value of a first magnetic force gradient strength observed by a magnetic force microscope when a servo signal is saturation-recorded on the magnetic layer, Fact.(p−p) being a peak-to-peak value of a second magnetic force gradient strength for the servo signal recorded on the servo band observed by the magnetic force microscope.