A variable magnification optical system consists of, in order from an object side, a first optical system remaining stationary during changing magnification and a second optical system including a plurality of lens groups moving during changing magnification. The first optical system includes a first mirror and a second mirror having reflective surfaces arranged to face each other. The first mirror is an optical element having a power at a position closest to the object side on an optical path and has a reflective surface concave toward the object side. The second mirror has a reflective surface convex toward the image side. An intermediate image is formed between the second mirror and the second optical system.