A magnetic recording medium includes a substrate, multiple underlayers formed on the substrate, and a magnetic layer formed on the multiple underlayers. A main component of the magnetic layer is an alloy having a L10 structure. At least one of the multiple underlayers is a crystalline underlayer containing W. The W is a main component of the crystalline underlayer. The crystalline underlayer further contains 1 mol % or more to 20 mol % or less of one or more kinds of elements selected from B, Si, and C. A barrier layer including a material having a NaCl structure is formed between the crystalline underlayer and the magnetic layer.