A speed variable moving sidewalk for conveying passengers includes an endless circulating path having inverting sections, a high-speed section and speed variable sections, and a large number of treadboards moving along the circulating path. Each treadboard can move independently as being guided by guide rails and has hooks on its underside which engage shafts of a driving chain for inverting section. The treadboard further has hooks on its underside which engage shafts of a rack chain in order to be driven in the high-speed section and a roller for transversely sliding relative to the neighboring treadboard. A handrail mechanism for the speed variable moving sidewalk includes: with the total length of the moving sidewalk being divided into plural portions, a multiple-number of independent moving handrail portions for allowing passengers to hold thereon, being arranged for the respective portions of the sidewalk while all of the moving handrail portions are arranged without overlapping with one another.