A digital recording and reproducing system wherein luminance signals digitized and converted into the low speed signals and chrominance signals digitized at the time of recording are distributed among a plural number of channels and the signals of the plural number of channels are recorded respectively on a recording medium. At the time of the reproduction, the signals of the plural number of the channels are reproduced respectively from the recording medium and combined to form the luminance signals and the chrominance signals respectively. The luminance signals in the combined signal are converted into a high speed signal and output terminals for outputting dubbing signals from the system for dubbing the signals are led. The output side of a low speed-to-high speed converter and a channel combination circuit.