[Object]An electric power steering apparatus capable of returning the steering wheel to a steering wheel neutral position even in case of failure of a steering angle sensor.[Solution] In performing a control action whereby the steering wheel is returned to a neutral position according to the steering angle and yaw rate, the gain of the yaw rate sensor (13) is amplified if a failure in the steering angle sensor (12) is detected, and the damping gain of a damping compensation unit (23) is reduced if failure in at least one of the sensors is detected. Thereby, the steering wheel (1) can return to the neutral position by producing a stronger returning force based on an amplified detection value even if the real yaw rate is small, and the damping component acting on the returning force can be reduced so that the self-aligning torque is enabled to return the steering wheel to the neutral position.