A power conversion apparatus includes a primary side circuit, a secondary side circuit that is connected to the primary side circuit through a reactor and magnetically coupled thereto through a transformer, and a control unit that adjusts power transmitted between the primary side circuit and the secondary side circuit by changing a phase difference between switching of the primary side circuit and switching of the secondary side circuit. The control unit adjusts the frequency of switching of the primary side circuit and the secondary side circuit according to the value of an equivalent inductance of the reactor and the transformer.