An image capturing apparatus capable of keeping constant the update interval of a display section even when still image photographing is performed during moving image photographing. In the image capturing apparatus, by controlling a storage time period during which display image data is stored in a storage section, a time period from a frame start to the start of displaying image data with a first resolution is made equal to a time period from a frame start to the start of displaying image data with a third resolution. Further, by controlling changing the start timing of reading out image data with a second resolution, the update interval of the display image data is kept constant.