A variable matching circuit includes a transformer which is disposed between first and second transistor circuits. A primary inductor device and a secondary inductor device are magnetically coupled in the transformer. The primary inductor device is connected between an output terminal of the first transistor circuit and a bias circuit for the first transistor circuit. The secondary inductor device is connected between an input terminal of the second transistor circuit and a bias circuit for the second transistor circuit. Connection points between the primary inductor device and the bias circuit for the first transistor circuit and between the secondary inductor device and the bias circuit for the second transistor circuit are connected to first and second capacitive elements, respectively. At least one of inductance values of the respective primary and secondary inductor devices and capacitance values of the respective first and second capacitive elements is variable.