An outboard motor includes an engine, a flywheel magnet generator, a fan, and a cover member. The engine includes a crankshaft extending in a vertical direction. The flywheel magnet generator includes a flywheel rotor, a core, and a coil. The flywheel rotor is attached to an end of the crankshaft. The core and the coil are disposed between the flywheel rotor and the engine. The fan is attached onto the flywheel rotor. The cover member is disposed above the fan. The cover member includes a first suction port that sucks in air from above the cover member. The flywheel rotor includes a second suction port that sucks in air from below the flywheel rotor. The fan includes a first ventilation path and a second ventilation path. The first ventilation path radially outwardly releases the air sucked in through the first suction port, whereas the second ventilation path radially outwardly releases the air sucked in through the second suction port.