Disclosed is a digital video record/playback apparatus and playback method thereof, by which a trick play mode of a digital video stream is processed. In the present invention, the transport stream is stored without additional data, the index information extracted in the storing process includes picture type, location of PCR packet of the corresponding picture, record location of the corresponding picture, etc., and the decoding time point of the picture is determined to display the corresponding picture by appropriately adjusting the transmission bit rate and the status of the VBV buffer according to the trick play mode in playing back the digital video stream. Therefore, without additional appended devices and a series of processing, the present invention enables to implement the trick play of the user-selected direction and speed and to reduce costs.