A variable valve actuating apparatus for an internal combustion engine, includes an intake valve timing control device to vary a center phase of an intake valve operation angle, an exhaust valve timing control device to vary a center phase of an exhaust valve operation angle, and an intake valve operation angle control device to vary an intake valve operation angle of the engine. A fail-safe control system is arranged to detect a malfunction of the exhaust valve timing control device; and to adjust an intake valve opening timing at or after an exhaust valve closing timing of the engine, upon detection of the malfunction, by operating at least one of the intake valve control device and the intake valve operation angle control device.