A control device for an internal combustion engine and a continuously variable transmission of a vehicle according to the present invention comprises the continuously variable transmission disposed between the internal combustion engine and driving wheels and enables controlling the output of the internal combustion engine. In particular, objective driving torque Tet is set according to driving torque Td applied to a vehicle, driving torque correcting amount T.sub.IV which serves as a first running resistance of the vehicle according to vehicle acceleration, transmission torque fluctuation correcting amount Tcv which serves as a second running resistance due to being consumed in the transmission operation mode of the continuously variable transmission, and vehicle body correcting torque Tv, which is necessary for eliminating a deviation .DELTA.v between an objective vehicle speed Vt and an actual vehicle speed Vc, required for eliminating this deviation .DELTA.v to control the output of the internal combustion engine with this objective driving torque. Accordingly, the internal combustion engine can be controlled with the output corresponding to a value of the objective driving torque Tet set by selectively using an optimum torque correcting amount depending on driving conditions. This results in elimination of slip of a transmission steel belt caused by excessive output and shock in the transmission operation.