There is provided a method of producing a substrate for magnetic recording media which is capable of efficiently removing alumina abrasive grains in the latter polishing step that have been stuck in the former polishing step during polishing of the substrate for magnetic recording media in which a NiP plating film has been formed on the surface of an Al alloy substrate, the method including: a rough polishing step for polishing the surface of a substrate for magnetic recording media, which is prepared by forming a NiP plating film on the surface of an Al alloy substrate, using a first grinder while supplying a polishing liquid containing alumina abrasive grains; and a finish polishing step for polishing the substrate for magnetic recording media following washing, using a second grinder while supplying a polishing liquid containing colloidal silica abrasive grains, wherein supply of the polishing liquid containing alumina abrasive grains is stopped and alumina abrasive grains are removed from the grinder by supplying a washing liquid containing no abrasive grains instead at the end of the rough polishing step, followed by an intermediate polishing step provided for polishing the surface of the substrate for magnetic recording media using the first grinder while supplying a polishing liquid containing colloidal silica abrasive grains.