A variable valve actuating apparatus for an internal combustion engine includes an intake valve operating angle varying mechanism, and an intake valve timing varying mechanism. The intake valve timing varying mechanism includes a housing rotating in synchronization with a crankshaft, and a vane member coupled to a drive shaft for intake valve operation, and movably mounted in the housing. The vane member includes a vane defining first and second fluid pressure chambers on first and second opposite sides of the vane. A hydraulic circuit is arranged to rotate the vane member relative to the housing by supply and return of a brake fluid to and from the first and second fluid pressure chambers so as to change the intake valve maximum lift phase. Coil springs are arranged to bias the vane member relative to the housing in a direction to retard the intake valve maximum lift phase.