An energy absorbing apparatus for a steering wheel includes an energy absorbing portion or member disposed between a steering shaft and a steering wheel rim. The energy absorbing member is constituted by an annular relatively thin plate which surrounds the axis of the steering shaft. A portion of the energy absorbing member is bent in the plane orthogonal to the axis of the steering shaft, whereby the bent portion is deformed when a collision occurs, and the kinetic energy is thereby absorbed. The deformable bent portion is provided with a plurality of slits extending radially of the steering shaft and has embossed portions each defined between a pair of adjacent slits, whereby it is possible to control the absorption of any impact load and adjust the amount of kinetic energy which it is intended should be absorbed.