A control device for an internal combustion engine includes an intake gas compressor, a cooling water circuit, an intercooler and an EGR device. An ECU is configured to: (a) control the temperature, of the cooling water of the intercooler to a target temperature in a specified external air state in which an external air temperature and an external air humidity are a specified temperature and a specified humidity, the target temperature being the temperature of the cooling water of the intercooler required for ensuring a specified performance in the specified external air state; and (b) control the EGR device based on an EGR rate mapping of the EGR rate. The EGR rate mapping being set so that a dew point of gas flowing into the intercooler does not exceed the target temperature.