The variable valve actuating device (20) comprises a switch pin (53) slidably received in the valve lifter (24) so as to selectively abut the end surface of the valve stem as the valve lifter is actuated by the cam. The device further comprises a first spring retainer (36) attached to an intermediate part of the valve stem (32) to engage a first valve spring (35), and a second spring retainer (44) slidably engaged by an end part of the valve stem to engage a second valve spring (43). The valve stem is provided with a stem end (39) which is enlarged with respect to a part of the valve stem slidably engaging the second spring retainer so as to define a shoulder surface (40a) that engages the second spring retainer against a spring force of the second valve spring.