Reactive sputtering conditions in which Fe3O4 films are deposited from α-Fe2O3 targets in an Ar-H2 atmosphere are described. It is confirmed that increases in the H2 fraction in the atmosphere, the target temperature or the substrate temperature reduce the degree of oxidation of the deposited iron oxide films, and that an increase in sputtering power density increases the degree of film oxidation. By controlling these parameters, Fe3O4 thin films which have specific resistances of 2 × 10-2-2 ×10-1 Ω·cm and a saturation magnetization of about 3300 G are obtained. It is also proven that the Fe3O4 thin films are converted into γ-Fe2O3 thin films by heating them at 330°C for 1 hour in air, and that these thin films have magnetic properties which make them suitable for use as high-density magnetic recording media.