An electric power steering apparatus includes a booster circuit and a microcomputer. The booster circuit includes a booster coil, a first FET, and a second FET. The booster coil is connected to the first FET, which is grounded. A node a between the booster coil and the first FET is connected to the second FET, which is connected to a drive circuit. The microcomputer drives the first and second FETs such that the first and second FETs are selectively turned on and off, thereby controlling an output voltage of the booster circuit. When application of assisting force to a steering system is stopped, the microcomputer holds the second FETs on until the output voltage of the booster circuit becomes equal to a predetermined voltage.