A fluorescence observation apparatus including: a light source unit that simultaneously irradiates a subject with illumination light and excitation light having a partial wavelength band of the wavelength band of the illumination light an objective lens unit that forms an image of reflected light reflected at the subject due to being irradiated with the illumination light and an image of fluorescence generated at the subject due to being irradiated with the excitation light a single image capturing element that simultaneously acquires the images of reflected light and fluorescence a filter that is disposed between the objective lens unit and the image capturing and that transmits the light, except the excitation light, to the image capturing element and a light-adjusting unit that adjusts the output intensity of the illumination light and the output intensity of the excitation light from the light source unit independently of each other.
