A variable magnification finder including from front to rear, a first lens unit of negative power, a second lens unit of positive power and a third lens unit of positive power, these three units constituting an objective lens of positive overall power, followed by an eyepiece lens of positive power, wherein a finder image formed by the first and second units near the third lens unit is observed by the eyepiece lens, and, with the other lens units being held stationary, the second lens unit is axially moved to vary the finder magnification.