A formant tracking apparatus and a formant tracking method are provided. The formant tracking apparatus includes: a framing unit dividing an input voice signal into a plurality of frames; a linear prediction analyzing unit obtaining linear prediction coefficients for each frame; a segmentation unit segmenting each of the linear prediction coefficients into a plurality of segments; a formant candidate determining unit obtaining formant candidates by using the linear prediction coefficients, and summing the formant candidates for each segment to determine formant candidates for each segment; a formant number determining unit determining a number of tracking formants for each segment among the formant candidates satisfying a predetermined condition; and a tracking unit searching the tracking formants as many as the number of the tracking formants determined in the formant number determining unit among the formant candidates belonging to each segment.