Provided is an outboard motor raising and lowering apparatus that is capable of automatically changing the speed of raising/lowering of an outboard motor according to the status of the outboard motor. An outboard motor raising and lowering apparatus (1) includes: a first fluid passage that connects a pump (42) and a lower chamber(s) of one or more tilt cylinders (14); a second fluid passage that connects the first fluid passage and a lower chamber(s) of one or more trim cylinders (12); a switching valve (60) provided at the second fluid passage; and a control section (100) configured to control the switching valve (60) with reference to a watercraft status signal.