The invention provides a continuous and mechanical variable valve timing adjusting device for an internal combustion engine, belonging to the technical field of internal combustion engines. The device comprises a crankshaft, a cam shaft, a cam, a driving gear, an intermediate gearing, an input center gear, a planet gear, a planet gear carrier, an output center gear and an adjusting device, wherein the front end of the crankshaft is installed at the axle center of the driving gear; the intermediate gearing is meshed with the driving gear and an outer gear ring of the input center gear respectively; the planet gear is meshed with an inner gear ring of the input center gear and the output center gear respectively; the front end of the cam shaft is installed at the axle center of the output center gear; and the adjusting device is connected with the planet gear carrier by a connecting shaft. In the working process of the device, when the planet gear carrier rotates in a certain direction,the rotating speed of the output center gear is increased or decreased, thus changing the rotation phase between the cam shaft and the crankshaft and realizing adjustment of valve timing. The device has reasonable design, simple structure, good reliability and higher adjustment precision and is easy to add on the original engine.