disclosed herein is a magnetic recording medium , in which a magnetic layer is formed by coating a magnetic paint containing a magnetic powder and a binder as its main components on a non - magnetic base material ; which is featured by containing as said binder a polymer having an alkenyl phenol as one of the components of the polymer ; and which has markedly improved effects in the dispersibility of the magnetic powder in said medium and in the abrasion resistance and flexibility of the magnetic layer .