There is provided a musical tone reproducing apparatus which is capable of recovering proper timing of musical tone generation even in a situation where processing of events takes much time such that the sounding timing of musical tones is delayed. Duration data read out from a FIFO 30 are added together by a duration forward counter 32b. A comparator circuit 32d compares the count value of an absolute time counter 32c and the count value of the duration forward counter 32b, and delivers the comparison result i to a FIFO controller 3 when the former becomes equal to or more than the latter. The FIFO controller 31 causes the FIFO 30 to read out event information and delivers the same to a decoder 32a, which in turn converts the event information into tone generator control data having a format peculiar to a tone generator 33 and delivers the same data to a register write controller 32e. The register write controller 32e writes an associated tone generator parameter into a tone generator control register within the tone generator 33, and the tone generator 33 reproduces and outputs musical tones based on the tone generator parameter.