To provide an imaging apparatus capable of obtaining a photographic image with high quality by optimizing a degree of saturation suppression in accordance with contents of saturation of pixel outputs in stroboscopic photography.

An imaging apparatus includes: an estimation part which analyzes an image obtained by imaging a subject by an imaging part while preparatorily emitting a light emission part for applying strobe light and calculates luminance estimation values of respective areas of the image when the luminance of a main subject is set to a target value; a calculation part which calculates a saturation quantity in a saturated area in which an estimation value exceeds a saturation limit value of pixels; a correction part which applies weight corresponding to an attribute of the saturated area to the saturation quantity and calculates a weighted saturation quantity; a change part which changes an imaging condition on the basis of the weighted saturation quantity; a control part which images the subject by the imaging part by mainly emitting the light emission part in accordance with the changed imaging condition; and a gradation conversion part which makes the luminance of the main subject coincide with the target value by applying gradation conversion processing to the image obtained by mainly emitting the light emission part.