Disclosed are a temperature compensation apparatus and method. The apparatus includes a reference signal generator that supplies at least one of a first current which is constant regardless of temperature variation and a second current which is proportional to temperature variation, a slope amplifier that determines a first output current having a second temperature coefficient which is a multiple of a first temperature coefficient of the second current, based on the first current and the second current, and a slope controller that determines a second output current having a third temperature coefficient, using a weighted average of the first current and the second current.