An air-conditioning apparatus is an air-conditioning apparatus, for an air-conditioning target space in which a rack including a device as a heat-producing object is provided and which is separated by the rack into a cold space and a hot space, that makes return air from the hot space flow in so as to cool the return air and supplies an arbitrary air volume of the supplied air which is obtained by cooling the return air to the cold space by using a supply fan. The air-conditioning apparatus includes a processor. The processor executes a process including conducting control so that a temperature of the supplied air is equal to a prescribed value that is set in advance, and adjusting an air volume of the supplied air by controlling the supply fan so that a temperature of the return air is equal to a target value that is set in advance.