A color video signal reproducing apparatus for reproducing a color video signal from a recording medium on which at least luminance and chrominance signals are recorded in the form of a multiplexed signal is arranged to reproduce the multiplexed signal from the recording medium; to separate the luminance and chrominance signals from the reproduced multiplexed signal; and to demodulate and convert the chrominace signal into a plurality of different base-band signals. This arrangement permits a correcting operation to be accomplished on the color information of the reproduced color video signal without deteriorating the color information with simple structural arrangement.