A digital video recording/playback apparatus is provided in which maximum delay can be easily changed in accordance with the bit rate of inputted video data. The digital video recording/playback apparatus includes a memory unit, a playback unit, a synchronization unit, a synchronization signal counter, and a controller. The synchronization signal counter counts a synchronization signal to generate a frame counter value. The controller outputs a reading start instruction for the video data to the memory unit, and a decoding start instruction for the video data to the playback unit. The controller is configured to determine a first process completion time limit represented by the frame counter value as a process completion time limit for the memory unit and to determine a second process completion time limit represented by the frame counter value as a process completion time limit for the playback unit.