The present invention is relative to a recording and/or reproducing apparatus having a cassette tape exchanging function of selectively taking out a cassette tape (1) accommodated in a cassette holder (130) for recording or reproducing information signals. A cassette tape driving device (150) is arranged in an inner area of a toroidally-shaped rotational plate (121) passing through the proximity of a cassette insertion/ejection opening (112) formed in a front panel (111) of a cabinet (110). The cassette tape accommodated in the cassette holder is pushed towards the cassette tape driving device by grip arms (162A), (162B) of a cassette holding mechanism (160) mounted on the opposite side of the cassette insertion/ejection opening (112) or is pulled out so as to be accommodated in the cassette tape holder.