A clothes treating apparatus that includes a heat pump cycle and a dehumidifying device is provided herein. The clothes treating apparatus may include a case and a drum installed within the case and configured to accommodate an item for drying. A circulation duct may be provided to form an air circulation flow channel that allows air to circulate through the drum. The heat pump cycle may include an evaporator and a condenser disposed to be spaced apart from one another within the circulation duct, the heat pump cycle being configured to absorb heat of air released from the drum through the evaporator and transmit the absorbed heat to air introduced to the drum through the condenser, by using a working fluid that circulates by way of the evaporator and the condenser. Moreover, the dehumidification device may be provided to dehumidify air passing through the evaporator in the circulation duct.