In an air-fuel ratio feedback control system including at least one air-fuel ratio sensor downstream of a catalyst converter provided in an exhaust gas passage, an actual air-fuel ratio is controlled in accordance with the output of the downstream-side air-fuel ratio sensor. When at least one of the air-fuel ratio feedback control conditions for the downstream-side air-fuel ratio sensor is not satisfied the controlled air-fuel ratio is made an air-fuel ratio by an open loop control, while all the air-fuel ratio feedback control conditions for the downstream-side air-fuel ratio sensor are satisfied the controlled air-fuel ratio is made the stoichometric ratio (.lambda.=1) in accordance with the output of the downstream-side air-fuel ratio sensor. For a period after all the air-fuel ratio feedback control conditions for the downstream-side air-fuel ratio sensor are satisfied, the control by the output of the downstream-side air-fuel ratio sensor is prohibited, but, the controlled air-fuel ratio is made the stoichiometric ratio (.lambda.=1) by an open loop control or by the output of an upstream-side air-fuel ratio sensor.