A tray holding apparatus includes a holding section, a separation section, a lifting/lowering section, and a control section. The holding section holds a stack of trays. The separation section separates the lowermost tray from the stack. The lifting/lowering section moves upward or downward between a predetermined place below the stack and this stack, thereby undergoing a first movement in which the separated tray is moved to the predetermined position and a second movement in which the tray in the predetermined place is moved to the stack. The control section controls the operations of the separation section and the lifting/lowering section.