To provide a control device of a continuously variable transmission configured to keep engine rotation speed low to prevent a fuel consumption rate from increasing, when gradual deceleration operation is performed such that an accelerator pedal is depressed and then is gradually returned to the full-closed position.

The control device includes: a block 80a for setting a target change gear ratio NCST of the continuously variable transmission based on vehicle speed V and an accelerator opening AP; a block 80b for calculating a target change speed dNCMD thereof by a similar parameter and the like; a block 80c for deciding a final value NCMD of the target change gear ratio based on the target change gear ratio NCST and the target change speed dNCMD and for controlling operation of the continuously variable transmission so that the final value is reached; a block 80d for determining whether or not gradual deceleration operation is performed when the accelerator pedal 52 is depressed and then is returned to the full-closed state; and a block 80e for executing gradual deceleration processing so that the change of the target change gear ratio NCST is quickened when the gradual deceleration operation is performed.