A printing apparatus and a sheet storage device meet a need for diversification in printing modes while reducing a load on a user. A printing apparatus includes a first holder which rotatably holds a roll sheet, a second holder which is located below the first holder and rotatably holds a roll sheet, a printing unit which performs printing on a shed reeled out of the first holder or the second holder, a discharge port which is provided above the first holder and discharges the sheet printed by the printing unit, and a receiving unit which is provided between the first holder and the second holder and is capable of establishing a first stab of receiving a front end portion of the sheet discharged from the discharge port and a second state of not receiving the front end portion.