An observation device has an ocular lens and an objective lens and is adapted to observe through the ocular lens an intermediate image of an object formed by the objective lens. The observation device further includes a display section provided either on a light path connecting the ocular lens and the objective lens or on a light path branched off from the light path and displaying an image, and a light path switching section provided on the light path connecting the ocular lens and the objective lens and switching the light to be guided from the ocular lens to the objective lens and the image displayed on the display section to be guided to the ocular lens or the objective lens, thereby providing a small-sized observation device and binoculars having a display function.