An ultrasonic observation apparatus includes: a reference spectrum storage unit that stores a first reference spectrum in a first reception depth range and a second reference spectrum in a second reception depth range obtained based on a frequency of an ultrasonic wave received from a reference reflector a frequency analyzer that calculates a frequency spectrum by analyzing a frequency of the received ultrasonic wave and a corrected frequency spectrum calculator that calculates a corrected frequency spectrum by determining whether a reception depth of the frequency spectrum calculated by the frequency analyzer is the first reception depth range or the second reception depth range, and obtaining a difference, in a case of the first reception depth range, between the first reference spectrum and the frequency spectrum and a difference, in a case of the second reception depth range, between the second reference spectrum and the frequency spectrum.
