An exercise load estimation method according to the present invention is provided with a measurement step for measuring the heart rate of a subject performing exercise, and an estimation step for estimating an exercise load of the subject on the basis of the measured heart rate and the length of a measurement period in which the heart rate was measured, the estimation step being provided with an exercise intensity calculation step for calculating the exercise intensity of the subject from the heart rate measured in the measurement step, and an exercise load calculation step for calculating the exercise load on the basis of the calculated exercise intensity and the length of the measurement period.
