A musical sound generation device including a first memory having a plurality of storage areas where waveform data is read out and stored, a waveform generator which functions as a plurality of waveform generating sections each of which generates a waveform for emitting a sound by reading out waveform data from a selected storage area of the first memory; and a control processor which determines, when an instruction for sound emission is provided, a combination of a waveform generating section and a storage area to be used for the instructed sound emission, based on a status of reading waveform data from each storage area by each waveform generating section.