Hydraulic control system and method for a belt-drive continuously variable transmission (CVT). The system includes an oil pump operative to produce an oil pressure and an oil flow amount which are supplied to the CVT, a pressure regulator valve operative to regulate the oil pressure, an oil supply passage for supplying oil to the belt on a downstream side of the pressure regulator valve, means for detecting an engine operating condition and generating a signal indicative of the engine operating condition detected, and a controller programmed to calculate a CVT input torque based on the signal, calculate a required belt lubricating oil flow amount to be supplied to the belt on the basis of the signal and the CVT input torque, determine a minimum speed of the oil pump based on the required belt lubricating oil flow amount, and control the oil pump at the minimum speed.