A signal quality monitoring device includes alarm producing/canceling sections for first and second grade, and an alarm holding section for, when a grade of low quality of the current signal shifts from one to the other grades and the corresponding alarm producing/canceling section discriminates that the current signal is in the other grade of low quality, holding the continuous output of the one alarm regardless of the cancellation by the one alarm producing/canceling section, until the other alarm producing/canceling section produces the continuous output of the corresponding other alarm as a consequence of expiration of the corresponding producing time period. Therefore, no-alarm states, caused by frequently shifting of low quality among plural grades in accordance with lengths of a producing time period and a canceling time period set for each grade of low quality, can be avoided.