A swash plate type variable displacement compressor includes a cylinder block defining a cylinder bore. A housing is fixed to the cylinder block and defines a crank chamber. A drive shaft is rotatably supported by the housing and the cylinder block. A swash plate is supported by the drive shaft in the crank chamber and is inclinable with respect to the axis of the drive shaft. A piston is accommodated in the cylinder bore so as to define a compression chamber in the cylinder bore and is coupled to the swash plate. A control mechanism includes a bleed passage for controlling the pressure in the crank chamber. The compressor is formed such that lubricating oil in the crank chamber is discharged into at least one of the suction chamber, the discharge chamber and the compression chamber while the inclination angle of the swash plate is substantially a maximum inclination angle.