An effect applying apparatus comprising: a first effector for applying a first audio effect to an audio signal supplied to the first effector; a second effector for applying a second audio effect to an audio signal supplied to the second effector; and a controller for switching connection between the first effector and the second effector, and controlling level of an audio signal supplied from one of the first and second effectors (32a, 32b) disposed in a previous stage to the other of the first and second effectors (32a, 32b) disposed in a subsequent stage, characterized in that the effect applying apparatus further comprises a control which is a knob that can be displaced by an operation by a user, wherein the controller has means for, when the control is displaced to a position in one direction from a predetermined position corresponding to a center, controlling level of an audio signal outputted from the first effector according to amount of the displacement of the control, and supplying the audio signal after the level control to the second effector to make the second effector output an audio signal to which the first audio effect and the second audio effect are applied in this order, and means for, when the control is displaced to a position in another direction from the predetermined position, controlling level of an audio signal outputted from the second effector according to amount of the displacement of the control, and supplying the audio signal after the level control to the first effector to make the first effector output an audio signal to which the second audio effect and the first audio effect are applied in this order. a first effector for applying a first audio effect to an audio signal supplied to the first effector; a second effector for applying a second audio effect to an audio signal supplied to the second effector; and a controller for switching connection between the first effector and the second effector, and controlling level of an audio signal supplied from one of the first and second effectors (32a, 32b) disposed in a previous stage to the other of the first and second effectors (32a, 32b) disposed in a subsequent stage, characterized in that the effect applying apparatus further comprises a control which is a knob that can be displaced by an operation by a user, wherein the controller has means for, when the control is displaced to a position in one direction from a predetermined position corresponding to a center, controlling level of an audio signal outputted from the first effector according to amount of the displacement of the control, and supplying the audio signal after the level control to the second effector to make the second effector output an audio signal to which the first audio effect and the second audio effect are applied in this order, and means for, when the control is displaced to a position in another direction from the predetermined position, controlling level of an audio signal outputted from the second effector according to amount of the displacement of the control, and supplying the audio signal after the level control to the first effector to make the first effector output an audio signal to which the second audio effect and the first audio effect are applied in this order.