A control apparatus for a continuously variable transmission of a vehicle is provided for switching the transmission from a continuously variable transmission mode to a stepped transmission mode without giving any discomfort to the driver, and for appropriately responding to a request for acceleration from the operator during the stepped transmission mode. The control apparatus comprises an ECU for setting a target transmission ratio in accordance with the detected operating condition of the vehicle, controlling the transmission ratio of the continuously variable transmission to reach the set target transmission ratio, and switching the transmission mode between a CVT mode and an AT mode. When the transmission mode is switched from the CVT mode to the AT mode, the ECU sets the target transmission ratio to a transmission ratio in the CVT mode immediately before the switching. Subsequently, when the engine rotational speed reaches an upper limit rotational speed, the ECU sets the target transmission ratio to a transmission ratio on a high speed side such that the engine rotational speed falls to an up-shift rotational speed.