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. A height of protrusions with a protrusion density of 0.002 protrusion/μm2 or lower on a surface of the magnetic layer as measured by AFM is 40 nm or lower; a density of protrusions that are 15 nm or higher in height on the surface of the magnetic layer as measured by AFM ranges from 0.01 to 0.18 protrusion/μm2; and the protrusions that are 15 nm or higher in height include protrusions formed of carbon black and protrusions formed of a substance with a Mohs' hardness exceeding 7, and an average height of the protrusions formed of carbon black is greater than an average height of the protrusions formed of the substance with a Mohs' hardness exceeding 7.