A variable capacity rotary compressor including upper and lower compression chambers having different interior capacities, and a rotating shaft. Upper and lower eccentric cams are provided on the rotating shaft to be eccentric from the rotating shaft in a same direction. Upper and lower eccentric bushes are fitted over the upper and lower eccentric cams, respectively, in such a way that a maximum eccentric part of the upper eccentric bush is opposite to that of the lower eccentric bush, with a slot provided between the upper and lower eccentric bushes. A locking pin functions to change a position of the upper or lower eccentric bush to a maximum eccentric position. Further, upper and lower brake units are respectively provided between the upper eccentric cam and the upper eccentric bush, and between the lower eccentric cam and the lower eccentric bush.