A system and a method for actuating intake valves of an internal combustion engine. The system includes a hydraulic circuit including a master cylinder, a control valve, an accumulator, a first one-way valve and a slave cylinder. The slave cylinder accommodates a slave piston, which is coupled to the intake valves. The control valve is disposed upstream of the accumulator for controlling flow from the hydraulic circuit to the accumulator. The first one-way valve is disposed downstream of the accumulator for permitting flow from the accumulator to the hydraulic circuit and for preventing flow from the hydraulic circuit to the accumulator without first passing through the control valve. The control valve has an open position that provides communication between the hydraulic circuit and the accumulator for a Miller cycle or Miller-like cycle operation. The control valve also has a closed position that prevents communication between the hydraulic circuit and the accumulator during Otto cycle operation.