A recording layer for an optical information recording medium, which has a high reflectance (initial reflectance) and excellent recording characteristics; an optical information recording medium comprising the recording layer; and a sputtering target useful for forming the recording layer. The recording layer for an optical information recording medium, on which recording is performed by irradiation of laser light, is characterized by containing indium (In) oxide and palladium (Pd) oxide which includes palladium monoxide and palladium dioxide. The recording layer for an optical information recording medium is also characterized in that the ratio of Pd atoms contained in the recording layer relative to the total of In atoms and Pd atoms contained therein is 6-60 atom %.