Provided is an ultrasound observation apparatus for generating an ultrasound image based on an ultrasound signal acquired by an ultrasound probe having an ultrasound transducer. The apparatus includes: an analysis unit that performs FFT on a sample data group having pieces of sample data in RF data generated based on the ultrasound signal, to calculate frequency spectra; a correction unit that generates, based on the frequency spectra, analysis data indicating a relationship between a distance from the ultrasound transducer and an intensity of each of the frequency spectra for each frequency component, and corrects the analysis data based on a correction amount set for each distance, the correction amount causing an intensity of reference data generated from a reference ultrasound signal to be constant regardless of the distance; and a calculation unit that calculates a frequency feature based on a frequency spectrum generated in accordance with the corrected analysis data.