A variable optical attenuator with tunable wavelength selectivity includes at least two reflectors disposed parallel to each other at a predetermined angle from an optic axis and driving units connected to said at least two reflectors for allowing the reflectors to move back and forth in a direction perpendicular or parallel to the optic axis or to revolve centering on an axis perpendicular or parallel to the optic axis. Since the variable optical attenuator of the present invention serves as a variable optical attenuator and, at the same time, as a tunable wavelength filter, problems of insertion loss and optical alignment that might be caused by separately installing a variable optical attenuator and a wavelength filter can be effectively prevented. Moreover, by implementing the variable optical attenuator and the tunable wavelength filter by using a single device, the size of a system using the optical attenuator can be reduced.