A recording/reproducing apparatus for reproducing recorded encoded picture data from a recording medium in varying speed without picture disruption. The recorded picture data are read from the recording medium and stored in a buffer memory. A detection circuit detects a picture header in the stored picture data and, depending upon the results of such detection, may or may not supply a clock signal therefrom. If a picture header is not detected, the detection circuit supplies the clock signal to the buffer memory and a delaying circuit. In response thereto, the stored picture data are read out from the buffer memory and supplied to the delaying circuit so as to be delayed by a predetermined amount prior to being supplied therefrom. If a picture header is detected during varying speed reproduction by the detection circuit, the clock signal is not supplied to the buffer memory and the delaying circuit, whereupon the delaying circuit outputs "0"s for a predetermined time period.