A main scale of an optical displacement measuring apparatus has slits arranged on it at regular intervals, a part of which is a missing slit that does not allow light to pass through used for detecting the original point. An index scale has four sets of windows formed on it. The four windows are arranged with mutual phase differences of 1/4 P, where P is the pitch of the arrangement of the slits. When a part of the missing slit overlaps with the index scale, no light reaches to photodiodes from the missing slit and only a partial light flux passes through a window, so that the light quantity decreases. An original point signal associated with the missing slit can be obtained by adding up the outputs of all the photodiodes.