A speed estimating device for an AC motor includes: a model deviation computing unit computing a model deviation based on a voltage, a current, and an estimated angular velocity of the AC motor; a first angular velocity estimating unit computing a first estimated angular velocity based on the model deviation; a second angular velocity estimating unit computing a second estimated angular velocity differing from the first estimated angular velocity in frequency, based on the model deviation; a compensation phase computing unit computing a compensation phase based on a disturbance frequency; and an estimated angular velocity calculator computing an estimated angular velocity of the AC motor based on the first estimated angular velocity and the second estimated angular velocity. Either one of the first estimated angular velocity and the second estimated angular velocity is computed based on the compensation phase.