The magnetic tape includes a magnetic layer containing ferromagnetic hexagonal ferrite powder, abrasive, and binder on a nonmagnetic support, wherein the ferromagnetic hexagonal ferrite powder exhibits an activation volume of less than or equal to 1,800 nm3, and inclination, cos θ, of the ferromagnetic hexagonal ferrite powder relative to a surface of the magnetic layer as determined by sectional observation by a scanning electron transmission microscope is greater than or equal to 0.85 but less than or equal to 1.00.