There is disclosed a molten metal level monitoring and controlling apparatus for continuous casting machines which employs an eddy-current type distance measuring device for measuring the level of the molten metal in the mold of a continuous casting machine. The eddy-current type distance measuring device generates a molten metal level signal by detecting in a noncontact manner the distance between its detecting mechanism fixedly mounted in place just above the surface of the molten metal and the molten metal level. According to another embodiment of the invention, the detecting mechanism of the eddy-current type distance measuring device is arranged so as to be vertically movable just above the surface of the molten metal, whereby the detecting mechanism is moved in response to variations in the level of the molten metal to always maintain constant the distance of the detecting mechanism from the molten metal level, and the potentiometer attached to the detecting mechanism generates a molten metal level signal indicative of the distance travelled by the detecting mechanism. The thusly generated molten metal level signal is displayed on a recorder and it is also used for adjusting the pouring rate and the casting withdrawing rate through a monitoring and controlling mechanism so as to maintain the level of the molten metal in the mold within a predetermined range.