An outboard motor including an internal combustion engine for propelling a ship is equipped with an air-guiding system using a covering hood surrounding surfaces of the internal combustion engine and auxiliary units. The covering hood is provided with airflow inlet and outlet openings in its interior, and a fan driven by the internal combustion engine influences airflows in the covering hood. An air-guiding system includes channeling devices for partial air flows. First partial air flows are fed as intake air to an engine intake system, and second partial air flows act, with the aid of the fan, on surfaces of the internal combustion engine and the auxiliary units heated by operation of the internal combustion engine. The heated airflows are conveyed by the fan and a third channeling device as exhaust air via an outlet opening in the covering hood outside of the covering hood or into the atmosphere.