An air-conditioning apparatus comprising: a refrigerant circuit in which a compressor, a heat-source-side heat exchanger, an expansion unit and a refrigerant-heat medium heat exchanger are connected by a refrigerant pipe, and refrigerant is circulated; a heat medium circuit in which a pump, the refrigerant-heat medium heat exchanger and a load-side heat exchanger are connected by a heat medium pipe, and a heat medium is circulated, the load-side heat exchanger being configured to exchange heat with air in space to be air-conditioned; a separating unit configured to separate the refrigerant and the heat medium from each other, the separating unit being located at part of the heat medium pipe in which the heat medium flows after flowing out of the refrigerant-heat medium heat exchanger and before flowing into the load-side heat exchanger, and which is located outside the space to be air-conditioned; and a discharge unit connected to the separating unit to discharge the refrigerant separated from the heat medium by the separating unit to an outside of the space to be air-conditioned; characterized in that the separating unit includes a connection port connected with part of the heat medium circuit which is located downstream of the refrigerant-heat medium heat exchanger, a discharge port connected with the discharge unit to allow the refrigerant to be discharged to the discharge unit, and an outlet port connected with part of the heat medium circuit which is located upstream of the load-side heat exchanger, and allowing the heat medium to be discharged; wherein the connection port is located at a higher level than or the same level as the outlet port in a height direction of the separating unit. a refrigerant circuit in which a compressor, a heat-source-side heat exchanger, an expansion unit and a refrigerant-heat medium heat exchanger are connected by a refrigerant pipe, and refrigerant is circulated; a heat medium circuit in which a pump, the refrigerant-heat medium heat exchanger and a load-side heat exchanger are connected by a heat medium pipe, and a heat medium is circulated, the load-side heat exchanger being configured to exchange heat with air in space to be air-conditioned; a separating unit configured to separate the refrigerant and the heat medium from each other, the separating unit being located at part of the heat medium pipe in which the heat medium flows after flowing out of the refrigerant-heat medium heat exchanger and before flowing into the load-side heat exchanger, and which is located outside the space to be air-conditioned; and a discharge unit connected to the separating unit to discharge the refrigerant separated from the heat medium by the separating unit to an outside of the space to be air-conditioned; characterized in that the separating unit includes a connection port connected with part of the heat medium circuit which is located downstream of the refrigerant-heat medium heat exchanger, a discharge port connected with the discharge unit to allow the refrigerant to be discharged to the discharge unit, and an outlet port connected with part of the heat medium circuit which is located upstream of the load-side heat exchanger, and allowing the heat medium to be discharged; wherein the connection port is located at a higher level than or the same level as the outlet port in a height direction of the separating unit.