A control device for an internal combustion engine is provided with a target air-fuel ratio setting part including a first setting control part performing normal control alternately switching a target air-fuel ratio between a predetermined first lean air-fuel ratio and a predetermined first rich air-fuel ratio and a second setting control part performing control for restoration of the storage amount stopping normal control and increasing the oxygen storage amount of a second catalyst when an output air-fuel ratio of a third air-fuel ratio sensor becomes a predetermined rich judgment air-fuel ratio or less. Further, the second setting control part is configured to set the target air-fuel ratio to a predetermined second lean air-fuel ratio larger than the first lean air-fuel ratio at the time of start of the control for restoration of the storage amount and set the target air-fuel ratio to a predetermined third lean air-fuel ratio smaller than the second lean air-fuel ratio after an exhaust with a larger air-fuel ratio than the stoichiometric air-fuel ratio flows out from the first catalyst in the time period of setting the target air-fuel ratio to the second lean air-fuel ratio.