An aspect of the present invention relates to a magnetic recording medium comprising a magnetic layer comprising a ferromagnetic powder and a binder on a nonmagnetic support, wherein the magnetic layer comprises a compound denoted by general formula (1): wherein, in general formula (1), X denotes a divalent linking group, each of R1 and R2 independently denotes an alkyl group having 2 to 20 carbon atoms, an aryl group having 6 to 20 carbon atoms, an aralkyl group having 7 to 20 carbon atoms, an alkoxyalkyl group having 2 to 20 carbon atoms, or an aryloxyalkyl group having 7 to 20 carbon atoms, and M denotes a hydrogen atom or a cation.