A vehicular trailer hitching assist system includes a rear backup camera disposed at a rear portion of a vehicle and a control disposed in the vehicle. A display device includes a video display screen operable to display video images for viewing by a driver of the vehicle. During a hitching maneuver event undertaken by the driver to hitch a trailer hitch of the vehicle to a trailer tongue of a trailer, and while the driver of the vehicle is maneuvering the vehicle to hitch the vehicle to the trailer, the control outputs video images derived from image data captured by the rear backup camera for display by the video display screen. At least one overlay overlays the displayed video images to guide the driver during the hitching maneuver. The at least one overlay aids in guiding connection of the trailer hitch of the vehicle to the trailer tongue of the trailer.