An observation apparatus includes an imaging section (220), a light source section (10), a light intensity adjusting section (110) and an image processing section (150). The imaging section (220) includes types of elements which generate a first signal when the elements receive light included in a sensitivity region. The light source section (10) includes light sources to emit narrow spectrum light, wavelengths of the light being different from one another and being set so that at least one of the wavelengths is included in each of the sensitivity regions. The light intensity adjusting section (110) separately adjusts respective light intensity of the light sources. The image processing section (150) generates display data indicating a color image on the basis of the image data.