A sheet material conveying device includes: a sheet material housing unit; a sheet material conveying unit that conveys each sheet material to a predetermined conveyance target position; a separating/feeding unit that separates a sheet material from sheet materials in the sheet material housing unit and conveys the separated sheet material alone to the sheet material conveying unit; a multi-feed detecting unit that detects whether multi-feed occurs in which a plurality of sheet materials are fed from the separating/feeding unit to the sheet material conveying unit; and an internal sheet material detecting unit that detects presence of the sheet material in the sheet material conveying unit. The sheet material conveying device performs multi-feed failure detection control for detecting whether a failure occurs in the multi-feed detecting unit before notification of a detection result of the internal sheet material detecting unit.