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