An active noise reduction system includes an earphone with a cup-like housing and a transmitting transducer, which converts electrical signals into acoustical signals and is arranged at an aperture of the housing. A receiving transducer converts acoustical signals into electrical signals, and is arranged proximate the transmitting transducer. A duct includes an end acoustically coupled to the receiving transducer, and another end located proximate the transmitting transducer. An acoustical path extends from the transmitting transducer to a listener's ear, and has a first transfer characteristic. Another acoustical path extends from the transmitting transducer through the duct to the receiving transducer, and which has a second transfer characteristic. A control unit generates a noise reducing electrical signal that is supplied to the transmitting transducer. This signal is derived from the receiving-transducer signal and filtered with a third transfer characteristic. The second and third transfer characteristics together model the first transfer characteristic.