An outboard motor includes an engine that generates power and a transmission device arranged to change the speed of rotation of the engine and to transmit the rotation to a propeller. The transmission device includes a planetary gear type transmission mechanism arranged to shift to any of a plurality of speed positions, and the planetary gear type transmission mechanism is controlled to shift such that a sun gear and planetary gears unitarily rotate when a speed position is a normally used speed position. The outboard motor achieves a reduction in load normally caused by engagements between gears in a normally used speed position and also achieves significant improvement in durability of the gears.