An ultrasonic observation apparatus includes: a frequency analysis unit that calculates a frequency spectrum for each of a plurality of locations in a predetermined region of a subject by analyzing frequency of the ultrasonic wave at the plurality of locations a frequency spectrum approximate equation calculation unit that calculates an approximate equation of the frequency spectrum at the each location calculated by the frequency analysis unit a deviation calculation unit that calculates deviation between the frequency spectrum at the each location calculated by the frequency analysis unit and the approximate equation of the frequency spectrum calculated correspondingly with the frequency spectrum by the frequency spectrum approximate equation calculation unit and a deviation display image data generation unit that generates deviation display image data including information related to the deviation.