An air-fuel ratio feedback control range is enlarged to improve exhaust purification performance and output stability. In one aspect, an air-fuel ratio control apparatus of an internal combustion engine comprises an air-fuel ratio sensor capable of detecting an air-fuel ratio across both lean and rich ranges with a theoretical air-fuel ratio interposed therebetween. Feedback control is performed so as to bring an actual air-fuel into a target air-fuel ratio at least in a predetermined operational range on the basis of a detected value of the air-fuel ratio sensor. Even in a range where the air-fuel ratio is made richer than the theoretical air-fuel ratio, the target air-fuel ratio is set to be richer, and the air-fuel ratio feedback control may still be executed.