A material property measuring apparatus includes a radiation source irradiator configured to irradiate a measurement target material with radiation beams having n different wavelengths, a detector configured to detect intensities of radiation beams having the respective wavelengths after the irradiation of the measurement target material, and a processing unit configured to correct the detected intensity of the radiation beam having at least a part of the respective wavelengths using a correction coefficient in which rows and columns are respectively represented by a matrix of an order of n or less, and to calculate an index value indicating a property of the measurement target material on the basis of relative intensities of the radiation beams having the respective wavelengths after the correction.