An information storage medium containing subtitles and a subtitle processing apparatus, where the information storage medium includes: audio-visual (AV) data; and subtitle data in which at least one subtitle text data and output style information designating an output form of the subtitle texts are stored with a text format. With this, output times of subtitle texts included in the text subtitle data can be overlapped, a subtitle file can be easily produced, and subtitles for an AV stream can be output with various forms.