An apparatus for estimating cardiovascular information includes: a main body; and a strap connected to the main body and formed to be flexible to be wrapped around an object, wherein the main body may include: a pulse wave measurer configured to measure, from the subject, a first pulse wave signal by using a first light of a first wavelength, and a second pulse wave signal by using a second light of a second wavelength, the first wavelength being different from the second wavelength; a contact pressure measurer configured to measure a contact pressure between the object and the pulse wave measurer; and a processor configured to extract a cardiovascular characteristic value based on the first pulse wave signal, the second pulse wave signal, and change in the contact pressure, and estimate cardiovascular information based on the extracted cardiovascular characteristic value.