A continuously variable transmission includes a transmission belt including a plurality of elements and a ring and wound around V-grooves of first and second pulleys, each of the plurality of elements including a body portion having a saddle surface and a pair of pillar portions extended from the body portion so as to be located on both sides in a lateral direction of the saddle surface, and the ring being disposed between the pair of pillar portions of each of the plurality of elements. When one of the first and second pulleys has its minimum groove width, at least a part in a thickness direction of the ring wound around the one of the first and second pulleys protrudes radially outward beyond an outermost circumference of a surface of the V-groove of the one of the first and second pulleys.