The invention relates to a method and an arrangement for regenerating a timing signal in digital data communication where two network elements operate in a master/slave loop timing mode. In a solution according to the invention two different frequency difference indicators are formed. Values or changes of the values of both of them in relation to time indicate a frequency difference between a reference timing signal present in a master device and a regenerated timing signal present in a slave device. One frequency difference indicator is formed on the basis of reception taking place in the master device, and the other one on the basis of reception taking place in the slave device. The frequency of the regenerated timing signal is adjusted utilizing information contained by both frequency difference indicators. The probability of incorrect frequency adjustment measures can be thereby reduced.