A control device of a hybrid vehicle includes an engine and an electric motor, a clutch, and an automatic transmission. The motor is the only drive power source when the clutch is released. The control device is configured such that when a request for increasing drive torque while the motor is running is made, if start control of the engine and downshift control of the automatic transmission overlap, clutch engagement completion is a starting point to start a rotational change of an input rotation speed of the transmission toward a synchronous rotation speed after a shift, and a transmission torque capacity during the downshift control in the transmission until engagement completion of the clutch being set equal to or greater than an input torque of the transmission during the motor running and less than an input torque of the transmission at the time of engagement completion of the clutch.