The present invention relates to a substrate holding apparatus for holding a substrate such as a semiconductor wafer in a polishing apparatus for polishing the substrate to a flat finish. The substrate holding apparatus according to the present invention comprises a top ring body having a receiving space therein, and a vertically movable member which is vertically movable within the receiving space in the top ring body. An abutment member having an elastic membrane is attached to a lower surface of the vertically movable member. The elastic membrane of the abutment member comprises an abutment portion, having a flange projecting outwardly, brought into direct or indirect contact with the substrate, and a connecting portion extending upwardly from a base portion of the flange of the abutment portion and being connected to the vertically movable member. The connecting portion is made of a material having a flexibility higher than that of material of the abutment portion.