A distance measuring method and apparatus in which first and second pseudo random signals which are the same in pattern but slightly different in period are generated to obtain a correlation output of the first and second pseudo random signals before transmission thereof as a reference correlation output, and the first pseudo random signal is directly transmitted toward a target or alternatively a carrier wave is modulated by the first pseudo random signal and transmitted toward the target. A correlation output of the signal reflected and received from the target and the second pseudo random signal is detected and the distance to the target is measured from the time interval between the reference correlation output and the received correlation output. Alternatively, the modulated carrier wave reflected and received from the target and the second pseudo random signal are subjected to correlation processing to detect a correlative modulated carrier wave and the correlative modulated carrier is subjected to orthogonal detection by a reference carrier wave thereby obtaining a target detection output. Then, the distance to the target is measured from the time interval between the reference correlation output and the target detection output.