A variable compression ratio apparatus may include a plunger configured to move up and down in response to rotation of a crank shaft, a piston having a chamber formed thereinside, into which the plunger is inserted, and configured to move up and down with the plunger, the chamber including an upper chamber formed above the plunger and a lower chamber formed below the plunger, a spool valve configured to selectively supply oil to the upper chamber or to the lower chamber, and a controller configured to control the spool valve so that the piston moves up and down with respect to the plunger.