A paint can holding apparatus includes a housing having a bottom wall and a peripheral wall that is attached to and extends upwardly from the bottom wall. A pair of dividing walls divides the housing into four compartments. The compartments are each substantially square shaped and have an equal size with respect to each other. Each of a plurality of plates has a same size and shape as an interior of the compartments. The plates each have a centrally located opening extending therethrough. Each of the compartments has one of the plates removably positioned therein. Each of a plurality of paint cans is removably positionable in one of the openings and is stabilized by the plates.