A ranging method and apparatus are provided. The method includes: sending a ranging signal to a measured system, where the measured system includes at least one reflection point (S110); receiving a first spectrum signal obtained after the ranging signal is reflected by the at least one reflection point (S120); determining a second spectrum signal according to the first spectrum signal, where the second spectrum signal includes the first spectrum signal, and a spectral width of the second spectrum signal is greater than a spectral width of the first spectrum signal (S130); and estimating a distance of the at least one reflection point according to the second spectrum signal (S140). According to the ranging method and apparatus, a distance of a reflection point in a measured system can be determined in a relatively accurate manner, so as to improve ranging accuracy.