A front fork of a bicycle, which has damping function, has a lower fork having a closed bottom. An upper fork tube is inserted into the lower fork for reciprocation relative to the lower fork, which has a nozzle at a top thereof. Oil is received in a space between the lower fork and the upper fork tube. An air chamber is formed in a space between a surface of the oil and the nozzle, which a gas is issued therein and a pressure of the gas is greater than an atmospheric pressure, and a damping device, which is mounted at a bottom of the upper fork tube and under the surface of the oil, has multiple, variable oil flow paths through which oil passes as the upper and lower fork member reciprocate to provide various damping characteristics dependent on the relative speed or impact the fork members experience with respect to each other.