In an oil supply apparatus, a valve body includes first and second radially protruding lands, and a small-diameter portion continuously connecting the first and second lands and having a diameter smaller than at least the outer diameter of the first and second lands. Rotational speeds of a rotor are set as first, second and third rotational ranges in the ascending order. In the first rotational range, work oil from a second discharge port is fed to a first oil passage via the small diameter portion. In the second rotational range, work oil from the second discharge port is fed to a return oil passage via the small diameter portion. In the third rotational range after the second oil passage is blocked relative to the return oil passage by the second land, work oil from the second discharge port is fed to the first oil passage.