A magnetic recording apparatus for carrying out a recording by selectively using one of two kinds of recording systems comprises first through fourth rotary magnetic heads (H S1 , 74a, H SA ; H S2 , 74b, H SB ; H L1 , 9la, H LA ; H L2 ,9lb, H LB ), a first circuit (l7, 73) for producing an FM luminance signal, second and third circuits (20-32, 78-90, l46, l47; 35, 93-99) for producing first and second frequency division multiplexed signals, and a switching circuit (l9, 34, 36; 100, l0l; 138, l39). The first and second heads (H S1 , H S2 ; 74a, 74b; H SA , H SB ) are mounted on a rotary body at mutually opposing positions, and have same height position. The third and fourth heads (H L1 , H L2 ; 9la, 9lb; H LA , H LB ) are mounted on the rotary body at mutually opposing positons respectively in vicinities of the first and second heads along a rotating direction of the rotary body, and have the same height position. The switching circuit selectively supplies the output signals of the first and second circuits to the first through fourth heads when a luminance/color separation recording system is selected as the recording system, and selectively supplies the output signal of the third circuit to the first and second heads or to the third and fourth heads when a low band conversion color recording system is selected as the recording system.