According to one embodiment, a magnetic recording medium includes a substrate, a soft magnetic layer, an underlayer, a magnetic recording layer, and a protective layer, wherein the magnetic recording layer is provided with a pattern including recording portions and non-recording portions, the non-recording portions have a composition that is equal to a composition obtained by demagnetizing the recording portions, the non-recording portions contain at least one metal element selected from the group consisting of vanadium and zirconium and at least one element selected from the group consisting of nitrogen, carbon, boron and oxygen, and the at least one element selected from the group consisting of nitrogen, carbon, boron and oxygen is contained in the non-recording portions at a higher content than the content of the at least one element selected from the group consisting of nitrogen, carbon, boron and oxygen in the recording portions.