A vehicle approach warning apparatus outputting a warning sound signal for outputting a warning sound, and generating the warning sound according to the warning sound signal from a speaker, and notifying a pedestrian around a vehicle that the vehicle approaches to the pedestrian is provided. The vehicle approach warning apparatus includes a memory portion, a signal generation portion, a level adjustment portion, a signal synthesizing portion, and an amplifier. The memory portion stores a first sound source data for generating a signal of a low frequency component, and a second sound source data for generating a signal of a high frequency component. The signal generation portion generates the signal of the low frequency component, and the signal of the high frequency component. The level adjustment portion adjusts a level of the signal of the low frequency component and the high frequency component.