A periphery monitoring apparatus for a work vehicle includes a plurality of obstacle detection sensors, a warning region setting section and a warning section. The obstacle detection sensors are mounted on the work vehicle, and each of the obstacle detection sensors is configured to determine a relative position of an obstacle with regard to the work vehicle by detecting the obstacle in the surroundings of the work vehicle. The warning region setting section is configured to set a warning region, where it is necessary to warn a driver of a presence of the obstacle, according to a movement state of the work vehicle. The warning section is configured to warn a driver that the relative position of the obstacle is positioned in the warning region.