A load driving apparatus for driving a plurality of loads is provided. The load driving apparatus includes an output stage module, a load driving module, and an output stage selection module. The output stage module includes a plurality of output stages. Each of the output stages is coupled to a corresponding one of the loads. The load driving module is coupled to the output stage module and outputs a driving signal to drive one of the loads through the output stage module. The output stage selection module is coupled between the output stage module and the load driving module and selects one of the output stages in the output stage module, so that the load driving module drives the load which is coupled to the selected output stage through the selected output stage. Furthermore, a grayscale voltage generating circuit including the foregoing load driving apparatus is also provided.