A cloaking apparatus and method are disclosed herein. The cloaking apparatus for cloaking a target object using meta-material includes a compensation unit, and a cloaking cell. The compensation unit is disposed in a second space surrounding part of a first space including the target object, and is composed of a first meta-material having a predetermined negative refractive index. The cloaking shell is configured to surround part of the compensation unit, and is composed of a second meta-material. The negative refractive index may be a negative refractive index that is adapted to cloak the target object by compensating for the positive refractive index of the first space.