A variable capacity rotary compressor is designed to prevent eccentric bushes from slipping during a compression operation, and thereby prevent noise from being generated and increase durability. The variable capacity rotary compressor includes a housing to define first and second compression chambers having different capacities therein. First and second eccentric cams are mounted to a rotating shaft to be placed in the first and second compression chambers, respectively. First and second eccentric bushes are rotatably fitted over the first and second eccentric cams, respectively. First and second rollers are rotatably fitted over the first and second eccentric bushes, respectively. First and second vanes partition the first and second compression chambers, respectively. A locking unit functions to make one of the first and second eccentric bushes be eccentric from the rotating shaft while making a remaining one of the first and second eccentric bushes be released from eccentricity from the rotating shaft, according to a rotating direction of the rotating shaft. A restraining unit is outwardly projected from the rotating shaft by a centrifugal force when the rotating shaft is rotated, thus restraining the first and second eccentric bushes.