A variable valve actuating apparatus for an internal combustion engine includes an exhaust valve operating angle varying mechanism, and an exhaust valve timing varying mechanism. When the internal combustion engine is at rest, the exhaust: valve operating angle varying mechanism sets an exhaust valve operating angle relatively small, and the exhaust valve timing varying mechanism sets an exhaust valve opening timing and an exhaust valve closing timing relatively retarded. Accordingly, when the internal combustion engine is at rest, the variable valve actuating apparatus sets the exhaust valve closing timing at or close to top dead center so as to enable startup of the internal combustion engine.