A blood flow measuring apparatus includes a sensor unit including a light emitter configured to emit light onto a measurement area and a light receiver configured to receive the light transmitted through the measurement area; at least one more light receiver configured to receive the light transmitted through the measurement area; and a control part configured to measure a blood flow state of the measurement area according to signals outputted by the light receivers. The light emitted by the light emitter is received by the light receivers arranged at different distances from the light emitter and the light receivers output the signals responsive to the received light. The control part measures the blood flow state of the measurement area by performing an arithmetic process to cancel a component of oxygen saturation in the blood, said component being included in the signals outputted by the light receivers.