PURPOSE: To obtain a vertical magnetic recording medium having excellent S/N particularly for high-density recording and reproduction by forming a magnetic layer into the two-layered constitution in which a Co-O or Co-Ni-O film is disposed on a soft magnetic layer and providing the magnetic layer having no inter-diffusion between the layers.

CONSTITUTION: The soft magnetic layer 6 consisting of 'Permalloy(R)', etc. is formed on a substrate 5 consisting of polyester, cellulose deriv., etc. and is subjected to a glow discharge treatment in gaseous O2 of 1×10-2Torr. The Co-O film or Co-Ni-O film 7 is then formed at ≤10°C substrate 5 temp. The magnetic layer of the two-layered constitution which obviates the generation of the inter-diffusion in the boundary 8 of the films 6, 7 is thus provided by using the Co-O or Co-Ni-O which permits the formation of the vertically magnet izable film at the low temp. The vertical magnetic recording medium which eliminates the uneven sensitivity owing to the nonuniformity in the diffusion phenomenon, eliminates the source for noise and has the excellent S/N is obtd.