A multitrack PCM reproducing apparatus for reproducing PCM signals recorded on a plurality of tracks in a distributed relation, comprises a signal selector circuit sequentially selecting the PCM signals reproduced from the individual tracks, an A/D converter converting the reproduced signals selected by the signal selector circuit into digital signals, a memory circuit storing the digital signals obtained by the A/D conversion, a single digital filter equalizing for each track the waveform of the digital signals stored in the memory circuit, and a signal processor circuit demodulating the PCM signals on the basis of the digital signals processed by the digital filter.