Provided is a road surface undulation estimation device and a road surface undulation estimation method capable of estimating an undulation of a road surface on which a vehicle travels, being configured to: detect regularly appearing objects from a vehicle periphery image captured by a camera; calculate detection positions of the respective regularly appearing objects by using camera installation information to transform positions of the respective regularly appearing objects in the vehicle periphery image into positions in a real space; calculate detection intervals between neighboring detection positions out of the respective detection positions; and estimate, from the respective detection positions, the calculated detection intervals, and an installation interval of the regularly appearing objects, inclinations of the actual road surface with respect to a road surface obtained through the transformation calculation from the vehicle periphery image to the real space.
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