A disk reproducing apparatus with a plurality of disks arrayed and held therein selects a desired disk for reproduction from the arrayed disks. The disk reproducing apparatus includes an insertion slot which defines an insertion executable position, a disk holding device including a plurality of disks inserted through the insertion slot by arraying the disks in a direction perpendicular to main surfaces of the disks, the disk holding device being movable in a direction of arrangement of the disks, a disk reproducing device having upper and lower surfaces opposing in the direction of arrangement of the disks, the disk reproducing device being movable in the direction of arrangement of the disks, and reproducing a disk to be reproduced at a reproduction executable position at which the upper surface faces the disk to be reproduced. When a disk is to be inserted, the disc reproducing device is placed at a position where the lower surface is positioned near to the insertion executable position in the direction of arrangement of the disks. When a disk is to be reproduced, the disk reproducing device is placed at a position where the distance of the upper surface from the insertion executable position in the direction of arrangement of the disks is smaller than its distance at the time of insertion of a disk. Thereby the reduction in size of the apparatus as a whole and a smooth execution of the reproduction operation are attained.