A variable valve operating apparatus including a drive cam, a rocker cam pivotally supported on a first pivot, a lift varying mechanism operative to change a pivotal position of the rocker cam to vary a valve lift of an engine valve, a swing arm including one end portion at which the swing arm is pivotally supported on a second pivot and the other end portion contacted with the engine valve, a hollow space defined between the end portions of the swing arm, and a driven roller rotatably disposed within the hollow space of the swing arm and contacted with a cam surface of the rocker cam. When the valve lift of the engine valve is a predetermined lift amount or more, a contact point between the driven roller and the rocker cam is located in the hollow space of the swing arm.