PURPOSE: To obtain a value timing regulating device to convert the opening and closing timing of the suction valve and the exhaust valve of an internal combustion engine according to the operating condition, in which a hydraulic pressure is fed to a cam journal constantly.

CONSTITUTION: To a cam shaft 1, an oil passage 24 communicating to a spool valve 30 communicated to an oil pump 100, through a circular groove 110, an oil passage 23 communicating to the valve 30 through a circular groove 120, and a detour passage 6 communicating to the pump 100 without passing through the valve 30, are provided. Since the hydraulic pressure from the oil pump 100 is fed to a cam journal 200 through the passage for journal lubrication, even when the hydraulic pressure from the spool valve 30 is not fed, the lubrication of the journal 200 can be maintained in a good condition.