A digital signal magnetic recording/reproducing apparatus converts a digital signal into a multi-value digital signal, followed by recording/reproducing the quadrature biphase modulated multi-value quadrature amplitude modulated signal. By using a multi-value quadrature amplitude modulation, a direct current component in the recorded signal can be eliminated, and the utilization efficiency of the recording frequency band of the digital signal magnetic recording/reproducing apparatus can be improved. Also, with respect to the amplitude non-linear characteristic which occurs in the magnetic recording/reproducing process, by providing a compensating circuit during the mapping before recording or after reproducing and demodulating, the deterioration of the S/N ratio of the reproduced and demodulated signal can be reduced to decrease the errors in the decoded data. Furthermore by bias-recording the multi-value quadrature amplitude modulation signal, the non-linearity of the electromagnetic conversion system is alleviated to decrease the deterioration of the S/N ratio due to distortion, thereby making the application of the modulation scheme more reliable.