A Ag alloy reflective film for an optical information recording medium contains Ag as a main component, and at least one selected from Nd, Sn, Gd and In in a total amount of more than 3.0 atomic percent and less than or equal to 10 atomic percent. The reflective film can further contain 0.01 to 3 atomic percent of at least one of Bi and Sb, and/or can further contain comprising 20 atomic percent or less of at least one of Mn, Cu, La and Zn. An optical information recording medium includes the Ag alloy reflective film and can be subjected to laser marking. A Ag alloy sputtering target has a similar composition to that of the Ag alloy reflective film.