An optical distance measuring apparatus operable in accordance with a phase difference detecting process, comprises a processing system including a central processing unit and first and second local oscillating circuits which serve to detect and calculate a phase difference between the electrical phase of a modulated signal outputted from a reference oscillator electrically connected to a light source via a modulating circuit and the electrical phase of a demodulated signal outputted from a demodulating circuit electrically connected to a light receiving portion so as to determine a distance between the apparatus and an object to be measured based on the detected phase difference with reference to the electrical phase of a reference signal outputted from the reference oscillator. A first local oscillating signal is outputted from the first local oscillating circuit and it is then subjected to frequency conversion together with the demodulated signal in a mixer so as to output a first intermediate frequency, while a second local oscillating signal is outputted from the second local oscillating circuit and it is then subjected to frequency conversion in a mixer together with the demodulated signal so as to output a second intermediate frequency signal. One of the first and second intermediate frequency signals is selected depending on the present distance between the apparatus and the object to be measured.