A paper sheet separating apparatus has a feeding roller to feed a paper sheet in a transporting direction and a reversing roller to give a predetermined torque in the opposite direction to the transporting direction so that paper sheets are separated and fed one by one from accommodated paper sheets. The paper sheet separating apparatus includes a reversing roller mounted on a reverse shaft via a torque limiter. The torque limiter includes a clutch body which rotates integrally with the reverse shaft, a hub which is rotatably supported on the shaft and a spring which is disposed between the clutch body and the hub. The hub forms a part of the reversing roller.