There is provided a pulse wave data analyzing method for extracting vital information out of pulse wave data concerning a living body. The method comprises a noise removal step of: detecting bottom values and peak values along a time axis in a time-series manner out of pulse wave data obtained by sequentially measuring a pulse wave of a subject for a predetermined period; making pairs with respect to the bottom values and the peak values adjacent to each other on the time axis to obtain bottom-to-peak amplitude values along the time axis, the bottom-to-peak amplitude value being a difference between the bottom value and the peak value in each of the pairs; and comparing each set of the two bottom-to-peak amplitude values adjacent to each other along the time axis to remove the bottom value and the peak value relating to the smaller bottom-to-peak amplitude value in the each set as a noise, if a ratio of the one of the two bottom-to-peak amplitude values to the other one of the two bottom-to-peak amplitude values is larger than a predetermined value.