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An magneto-optical recording medium includes : a transparent dielectric layer; a reproduction layer that is in an in-plane magnetization state at room temperature and changes into a perpendicular magnetization state with a rise in temperature; a non-magnetic intermediate layer; a recording layer made of a perpendicularly magnetized film; and a protection layer, the layers being formed one after another in this order. The recording layer is made of a rare-earth and transition metal alloy, and the rare earth metal is composed of more than two kinds of rare-earth-metal elements containing Gd. The information stored in a magnetic recording domain is masked with respect to a part that is in an in-plane magnetization state. Consequently, recording can be performed with a less powerful laser beam, and each recording bit can be reproduced independently to produce high quality signals even if the converged light beam covers a neighboring recording bit within its radius.