The present invention discloses a rolling apparatus and method of controlling the shape of rolled sheet that even in extremely thin sheet rolling, can attain excellent shape control. The rolling apparatus comprises a rolling unit for performing rolling between vertically arranged work rolls (12) to thereby obtain rolled sheet (P); a shape measuring unit for measuring the shape of rolled sheet (P)obtained by rolling by means of the rolling unit in the width direction thereof; and multiple injection nozzles (32) arranged along the longitudinal direction of the work rolls (12), and further comprises spray unit (30) for spouting work roll cooling oil (C) to the work rolls (12); and a shape control unit for regulating the rate of work roll cooling oil (C) spouted from the spray unit (30) and/or the temperature thereof in accordance with the measurement information from the shape measuring unit to thereby control the shape of the rolled sheet (P). The shape control unit has two control modes conflicting to each other in the relationship of the rate of work roll cooling oil (C) spouted from the spray unit (30) and/or the temperature thereof to the measurement information from the shape measuring unit and switches the two control modes in accordance with the thickness of the rolled sheet (P).