There is provided a musical information processing terminal that enables reproducing performance data and audio data that are transmitted and received between the musical information processing terminal such as a terminal for a teacher and a terminal for students through a communication network with a simple construction and without an unnatural feeling being given to users. At least one of performance data that instructs generation and control of musical tones and audio data that represents audio waveforms is received from an external musical information processing terminal through a communication network. The performance data or the audio data is reproduced. Data to be reproduced is selected either from the performance data or from the audio data. The data to be reproduced is determined according to the received data and the selected data.