An endoscope system includes a light source apparatus to generate an illumination light including a first light in a red to near infrared region, a second light in a green region, and a third light in a blue region, an image pickup device to pick up an image of an object and output an image pickup signal, and a processor to generate a first to third color components corresponding to the first to third lights based on an image generated according to the image pickup signal. The processor generates two of three color components that are blue, green, and red included in an observation image by using a second color component, and generates one remaining color component by using a first color component, and generates respective color components of red, green, and blue included in a white light observation image by using the first to third color components.