According to one embodiment, a perpendicular magnetic recording medium includes a substrate, and a multilayered magnetic recording layer formed on the substrate by alternately stacking two or more magnetic layers and two or more nonmagnetic layers. The magnetic layers and nonmagnetic layers of the multilayered magnetic recording layer are continuous layers. The magnetic layer includes a magnetic material portion, and a plurality of pinning sites dispersed in the magnetic material portion and made of a nonmagnetic metal different from a nonmagnetic material as a main component of the nonmagnetic layer. This perpendicular magnetic recording medium has magnetic characteristics by which a gradient α of a magnetization curve near the coercive force is 5 or more.