An electric power steering apparatus that calculates a current command value based on a steering torque and a vehicle speed, drives a motor based on said current command value, and performs an assist control of a steering system by means of drive control of said motor, comprising: a steering wheel returning control section that calculates a steering wheel returning control current based on a steering angle, said current command value, said vehicle speed and a steering angle speed, and drives said motor by means of a compensation current command value obtained by adding said steering wheel returning control current to said current command value, characterised in that said steering wheel returning control section comprises a target returning torque calculating section that calculates a target returning torque based on said steering angle and said vehicle speed, a correcting section that corrects said target returning torque with said steering torque and an assist torque, a steering system characteristic section that multiplies by a transmission characteristic corresponding to a virtual steering system characteristic based on a correction torque corrected in said correcting section and a viscosity coefficient, a steering wheel returning control gain calculating section that multiplies a deviation between a target steering angle speed and an actual steering angle speed from said steering system characteristic section by a vehicle speed gain and a steering torque gain to obtain a steering wheel returning control gain, and a steering wheel returning control current calculating section that performs at least one control calculation of a P control calculation, an I control calculation and a D control calculation with respect to said steering wheel returning control gain, performs an output limit in response to said vehicle speed gain and said steering torque gain, and obtain said steering wheel returning control current. a steering wheel returning control section that calculates a steering wheel returning control current based on a steering angle, said current command value, said vehicle speed and a steering angle speed, and drives said motor by means of a compensation current command value obtained by adding said steering wheel returning control current to said current command value, characterised in that said steering wheel returning control section comprises a target returning torque calculating section that calculates a target returning torque based on said steering angle and said vehicle speed, a correcting section that corrects said target returning torque with said steering torque and an assist torque, a steering system characteristic section that multiplies by a transmission characteristic corresponding to a virtual steering system characteristic based on a correction torque corrected in said correcting section and a viscosity coefficient, a steering wheel returning control gain calculating section that multiplies a deviation between a target steering angle speed and an actual steering angle speed from said steering system characteristic section by a vehicle speed gain and a steering torque gain to obtain a steering wheel returning control gain, and a steering wheel returning control current calculating section that performs at least one control calculation of a P control calculation, an I control calculation and a D control calculation with respect to said steering wheel returning control gain, performs an output limit in response to said vehicle speed gain and said steering torque gain, and obtain said steering wheel returning control current.