A variable control apparatus and method of the amount of regenerative braking of a vehicle using a paddle shift are provided. The method includes sensing, by a controller, positive (+) and negative (−) shifting in a manual mode based on a signal from a shift-operating unit during regenerative braking with a drive (D) gear engaged while the vehicle travels. A regenerative braking torque map that corresponds to a selected gear is selected based on the signal from the shift-operating unit. In addition, regenerative braking of a driving motor is adjusted based on the torque value calculated from the selected regenerative braking torque map.