A banknote separation apparatus, for a banknote bundle receiving machine, includes a guide unit, a pickup roller unit, a pickup roller raising/lowering unit, a feeding roller unit and a gate roller unit. The guide unit is provided on a route along which a banknote bundle inputted into the banknote bundle receiving machine is moved. The pickup roller unit is provided above the guide unit in a spaced-apart relationship with the guide unit and configured to separate a banknote from the banknote bundle and to feed the banknote. The pickup roller raising/lowering unit is configured to raise or lower the pickup roller unit. The feeding roller unit is provided on a back side of the pickup roller unit. The gate roller unit is provided under the feeding roller unit and configured to maintain a predetermined distance from the feeding roller unit.