An automatic equalizer for use with a recording and/or reproducing apparatus or with a communication transmission channel, wherein equalizer parameters are rendered variable and the degree of change of the error rate is extracted to set the parameters to optimum values based on the degree of change of the error rate. Output signal error rates are sequentially detected at a plurality of measurement points corresponding to preset plural characteristic parameters to find a minimum error rate measurement point. An initial parameter setting operation is performed for providing characteristic parameters for this measurement point to the equalizer as the initial parameter.