In a needle bar transfer device for a multi-needle sewing machine, a depressing member is secured to a needle bar descending lever for aligning entire needle bars in an equal height at the time of transferring the needle bars, while a needle bar holding member is extended from the needle bar descending lever. Holding portions which are engageable with recessed portions provided at the upper ends of inoperative needle bars and an escape portion which receives an operative needle bar in an interference preventing manner are provided in the needle bar holding member.