PURPOSE:To obtain a magnetic tape which is low in coefft. of dynamic friction and has superior surface characteristic, high band sensitivity, etc. by using the magnetic coating prepd. by coating the surfaces of magnetic powder with a glyceride and a phosphate followed by drying then kneading these together with a binder, a haredner, etc. CONSTITUTION:100pts. Magnetic powder is added into the soln. prepd. by dissolving about 3- 4pts. glyceride, particularly, a fatty acid ester of a glycerol having a saturated fatty acid of C12- 20 or an alpha-fatty acid ester of a glycerol having a fatty acid of C18 having 1-2 pieces of double bonds in an alpha-position and 1-2 pts. a phosphate of higher alcohol or of alkyl phenol in a solvent such as methyl ethyl kenone, and these are mixed and stirred to allow the above-described additives to adsorb on the magnetic powder, after which the mixture is heated and dried. The magnetic coating prepd. by adding 100pts. the resultant coated magnetic powder in 30pts. a binder resin, and if necessary, adding a destaticizing agent and the like is prepd. This coating is coated on a polyester substrate or the like, whereby the magnetic tape which is low in coefft. of dynamic friction, does not cause tape squeal or the like after the use of multiple repetitive times, and does not cause staining of magnetic heads or the like owing to peeling of the magnetic powder is obtained.