A transmission for a hybrid vehicle may include a first input shaft continuously provided with power from an engine, a second input shaft selectively provided with power from the engine via a clutch, a counter shaft coupled to the first input shaft, an output shaft coupled to the second input shaft, a first one-way clutch disposed on a path along which power is transferred from the engine to the output shaft, a motor input shaft provided with power from a motor, a motor-side shift unit comprising a plurality of pairs of gears having different gear ratios, in which one pair of the plurality of pairs of gears suitable to a traveling speed is selected by an engager/disengager, and a second one-way clutch disposed on a path along which power is transferred from the motor to the output shaft.