An internal combustion engine including a valve system and a breather system. The valve system includes a camshaft having intake cams and exhaust cams. The intake cams open and close intake valves, and the exhaust cams open and close exhaust valves. The breather system includes an upstream-side breather chamber and a downstream-side breather chamber. Blow-by gas flows into the upstream-side breather chamber through a chain chamber. The down-stream side breather chamber is provided in the camshaft, and also formed of a through hole constituted of a plurality of hole portions. The hole portions have different sizes and are aligned in the axial direction. The through hole opens to the chain chamber at a first shaft end portion of the camshaft, and also opens to the down-stream side breather chamber at a second shaft end portion of the camshaft. The down-stream side breather chamber is formed of a cam holder.