A pneumatic tire is provided in the outer surface of each sidewall portion with a serrated zone formed by a number of serration grooves extending at an angle of at most 45 degrees with respect to the tire radial direction. Each of the serration grooves has a variable depth such that the deepest point lies between the radially outermost end and innermost end of the serration groove. The deepest point is positioned in a range between 0.2 time and 0.4 times a radial distance Ha from the maximum carcass section width position to the radially outermost end of the tire. As a result, the rolling resistance of the tire can be reduced.