An endoscope apparatus 1 includes a light source device 4 that illuminates an object to be examined with illumination light, a CCD 2 that receives reflected light of the illumination light irradiated to the object to be examined and picks up an image of the object to be examined, an image processing section 101 that generates, based on image pickup signals obtained by the CCD 2, a first image signal with a high-frequency component suppressed, from an average image of image pickup signals of at least two or more narrow band wavelengths, and generates a second image signal with a high-frequency component suppressed, from a difference image of image pickup signals of predetermined two narrow band wavelengths, and an observation monitor 5 that allocates the first image signal and the second image signal to one or more predetermined color channels and performs display.