Provided are a variable power optical system in which the value of the entire length with respect to the image height is reduced and the aberration is well corrected, and an image pickup device comprising the same. Specifically provided is a variable power optical system comprising, in order from the object side, at least a first lens group having negative refractive power, a variable power group having positive refractive power, and a final lens group having positive refractive power, wherein the variable power group is provided with, in order from the object side, a first lens element having positive refractive power, a second lens element, and a third lens element, the second lens element has a convex shape on the object side, and the final lens group comprises a positive lens, the variable power optical system satisfying the following conditional expression: 10≦VdLg≦45 −1.0