A vibration isolating apparatus is mounted on a vehicle body so as to absorb vibrations from a vibration source such as an engine. The apparatus includes a deformable liquid chamber which is divided into small liquid chambers by means of a partition plate. A bore which is formed in the partition plate is opened and closed by means of a valve, whereby the small liquid chambers are communicated with and shut off from each other. As a means for absorbing low-frequency vibrations, an orifice is provided which provides communication between the small liquid chambers. When a high-frequency vibration is generated, the valve is opened, and the bore of the partition plate causes liquid-mass resonance. A part of one of the small liquid chambers is constituted by a diaphragm through which a valve-driving force is transmitted.