An oil level regulating apparatus includes a valve unit and a solenoid unit. The valve unit includes a housing having an inflow hole, an outflow hole, and a leak hole, a partition separating the outflow hole and the leak hole, defining a valve chamber close to the outflow hole, and having a partition continuous hole, a valve dividing the valve chamber into an introduction chamber and a pressure chamber and having a valve continuous hole, and a valve biasing member biasing the valve. The solenoid unit has a shaft configured to open and close a leak channel. The shaft can open and close the leak channel on the downstream side of the pressure chamber. When the shaft closes the leak channel, the valve is switched to a closed valve state of closing the outflow hole.