A control apparatus for a hybrid vehicle power transmitting system wherein an electric motor is connected through a step-variable transmission to a drive-wheel-side output shaft to which a drive force of a main drive power source is distributed by a power distributing device, which control apparatus is configured to reduce a shifting shock upon a shifting action of the step-variable transmission wherein when at least one of the operating states of transmission 20 and electric-energy storage device 32 satisfies a predetermined condition, the degree of limitation or reduction of a torque reduction amount of MG2 by MG2-torque-reduction-control limiting portion 142 is reduced with respect to that when at least one of the operating states does not satisfy the predetermined condition, while output torque of MG1 is reduced by MG1-torque-reduction control portion 144, so that a shifting shock of the transmission 20 upon its shifting action can be reduced by implementing the torque reduction control of the MG1 while reducing the degree of the limitation of the torque reduction control of the MG2 when it is determined that the limitation of the torque reduction control of the MG2 has a considerable influence on the shifting action.