To implement a light source apparatus that can efficiently excite a fluorescent substance and has favorable color reproducibility.There is provided a light source apparatus including: a first light source configured to output light having a first wavelength λb1 included in a first wavelength region; a second light source configured to output light having a second wavelength λb2 that is included in the first wavelength region, and is shorter than the first wavelength; a fluorescent substance (133) configured to be excited by the light having the first wavelength and the light having the second wavelength to emit light λy in a second wavelength region; and a wavelength selection member (140) provided to face the fluorescent substance (133), and configured to reflect the light having the second wavelength λb2 among light output from the fluorescent substance (133).