A variable capacity rotary compressor to prevent an eccentric bush and a locking pin from being deformed or worn out due to a variance in a pressure of a compression chamber as a rotating shaft rotates. The compressor includes upper and lower compression chambers having different interior capacities thereof, and a rotating shaft. Upper and lower eccentric cams are provided on the rotating shaft to be eccentric from the rotating shaft in a common direction. Upper and lower eccentric bushes are fitted over the upper and lower eccentric cams, respectively, with a slot provided at a position between the upper and lower eccentric bushes. The locking pin operates to change a position of the upper or lower eccentric bush to a maximum eccentric position. Further, surfaces of parts around first and second ends of the slot are heat-treated, thus increasing a hardness thereof.