An ultrasonic observation apparatus includes: an ultrasound probe that receives an ultrasonic wave reflected from a specimen under examination; a computation unit that extracts a feature of the specimen under examination based on the received ultrasonic wave; a storage unit that stores pieces of examination data in which a data set including the extracted feature and a parameter used for extracting the feature associates with identification information for identifying the specimen; a data selection unit that selects examination data meeting a predetermined condition among the pieces of examination data in an examination carried out in the past for a specimen whose identification information is identical to that of the specimen under examination; and an execution control unit that causes the computation unit to re-extract one of the feature included in the selected examination data and the extracted feature, using the parameter used for extracting the other of the features.