An electric power steering system comprising: an electric motor configured to apply motor torque to a steering system; a rotational angle detection unit configured to detect a rotational angle of the electric motor; a current detection circuit configured to detect a motor current that flows through the electric motor; and a steering torque detection unit configured to detect or estimate steering torque (T tb) applied to the steering system, characterized by comprising a target torque setting unit configured to set target torque (N·T m, ad) for the electric motor based on an automatic steering angle command value (θ c,cmda); a current command value setting unit configured to set a current command value corresponding to the target torque; and a current control unit configured to cause the motor current to follow the current command value, wherein: the target torque setting unit includes a basic target torque setting unit, a first compensation value computation unit, a second compensation value computation unit, and a correction unit (43, 44); the basic target torque setting unit is configured to set basic target torque (T 0,ad) for the electric motor such that the rotational angle of the electric motor follows the automatic steering angle command value; the first compensation value computation unit is configured to set a first compensation value (w·Ttb) based on the steering torque; the second compensation value computation unit is configured to compute a second compensation value either based on the motor torque, the rotational angle, and the steering torque (T tb), or based on the target torque, the rotational angle, and the steering torque, the second compensation value being an estimated value of disturbance torque other than the steering torque that acts on the steering system; and the correction unit is configured to correct the basic target torque using the first compensation value and the second compensation value. an electric motor configured to apply motor torque to a steering system; a rotational angle detection unit configured to detect a rotational angle of the electric motor; a current detection circuit configured to detect a motor current that flows through the electric motor; and a steering torque detection unit configured to detect or estimate steering torque (T tb) applied to the steering system, characterized by comprising a target torque setting unit configured to set target torque (N·T m, ad) for the electric motor based on an automatic steering angle command value (θ c,cmda); a current command value setting unit configured to set a current command value corresponding to the target torque; and a current control unit configured to cause the motor current to follow the current command value, wherein: the target torque setting unit includes a basic target torque setting unit, a first compensation value computation unit, a second compensation value computation unit, and a correction unit (43, 44); the basic target torque setting unit is configured to set basic target torque (T 0,ad) for the electric motor such that the rotational angle of the electric motor follows the automatic steering angle command value; the first compensation value computation unit is configured to set a first compensation value (w·Ttb) based on the steering torque; the second compensation value computation unit is configured to compute a second compensation value either based on the motor torque, the rotational angle, and the steering torque (T tb), or based on the target torque, the rotational angle, and the steering torque, the second compensation value being an estimated value of disturbance torque other than the steering torque that acts on the steering system; and the correction unit is configured to correct the basic target torque using the first compensation value and the second compensation value. the target torque setting unit includes a basic target torque setting unit, a first compensation value computation unit, a second compensation value computation unit, and a correction unit (43, 44); the basic target torque setting unit is configured to set basic target torque (T 0,ad) for the electric motor such that the rotational angle of the electric motor follows the automatic steering angle command value; the first compensation value computation unit is configured to set a first compensation value (w·Ttb) based on the steering torque; the second compensation value computation unit is configured to compute a second compensation value either based on the motor torque, the rotational angle, and the steering torque (T tb), or based on the target torque, the rotational angle, and the steering torque, the second compensation value being an estimated value of disturbance torque other than the steering torque that acts on the steering system; and the correction unit is configured to correct the basic target torque using the first compensation value and the second compensation value.