A fundus observation apparatus, comprising: a photographing part designed to photograph the fundus of a subject eye, a forming part comprising an optical system designed to irradiate signal light onto the fundus and to interfere reflected light of the signal light from the fundus with reference light via a reference path and to detect the resulting interference light, wherein the forming part is designed to form a tomographic image of the fundus based on the detection result, and an analyzing part designed to analyze a photographed image of the fundus from the photographing part to delete predetermined low-frequency components from the photographed image, wherein the analyzing part comprises: a smoothing part designed to carry out a smoothing process on the photographed image to form a smoothed image, a difference processing part designed to form a difference image with high-frequency components including at least a contour of optic disc in the fundus by carrying out a difference process of the smoothed image and the photographed image, wherein the smoothed image is multiplied by predetermined weight in order to form the difference image before difference process, the weight being a value of between 0.7 or more and 0.9 or less, and a composition processing part designed to add the photographed image from the photographing part and the difference image by dividing the difference image by a value in which the weight is subtracted from 1, thereby forming the photographed image with the low-frequency components removed. a photographing part designed to photograph the fundus of a subject eye, a forming part comprising an optical system designed to irradiate signal light onto the fundus and to interfere reflected light of the signal light from the fundus with reference light via a reference path and to detect the resulting interference light, wherein the forming part is designed to form a tomographic image of the fundus based on the detection result, and an analyzing part designed to analyze a photographed image of the fundus from the photographing part to delete predetermined low-frequency components from the photographed image, wherein the analyzing part comprises: a smoothing part designed to carry out a smoothing process on the photographed image to form a smoothed image, a difference processing part designed to form a difference image with high-frequency components including at least a contour of optic disc in the fundus by carrying out a difference process of the smoothed image and the photographed image, wherein the smoothed image is multiplied by predetermined weight in order to form the difference image before difference process, the weight being a value of between 0.7 or more and 0.9 or less, and a composition processing part designed to add the photographed image from the photographing part and the difference image by dividing the difference image by a value in which the weight is subtracted from 1, thereby forming the photographed image with the low-frequency components removed. a smoothing part designed to carry out a smoothing process on the photographed image to form a smoothed image, a difference processing part designed to form a difference image with high-frequency components including at least a contour of optic disc in the fundus by carrying out a difference process of the smoothed image and the photographed image, wherein the smoothed image is multiplied by predetermined weight in order to form the difference image before difference process, the weight being a value of between 0.7 or more and 0.9 or less, and a composition processing part designed to add the photographed image from the photographing part and the difference image by dividing the difference image by a value in which the weight is subtracted from 1, thereby forming the photographed image with the low-frequency components removed.