An internal combustion engine comprises an exhaust purification catalyst arranged in an exhaust passage of the internal combustion engine and being able to store oxygen in inflowing exhaust gas and an air-fuel ratio sensor arranged at a downstream side of the exhaust purification catalyst in a direction of exhaust flow and detecting an air-fuel ratio of exhaust gas flowing out from the exhaust purification catalyst and stops or decreases a feed of fuel to a combustion chamber as fuel cut control. The abnormality diagnosis system calculates a characteristic of change of an air-fuel ratio based on an output air-fuel ratio output from the air-fuel ratio sensor at the time when the output air-fuel ratio first passes a part of an air-fuel ratio region of a stoichiometric air-fuel ratio or more after an end of the fuel cut control, and diagnoses abnormality of the air-fuel ratio sensor based on the characteristic of change of the air-fuel ratio. As a result, the diagnosis system can diagnose the abnormality of deterioration of response of the downstream side air-fuel ratio sensor when necessary without fail when performing fuel cut control.