Abstract: An internal combustion engine system includes a fuel injection valve, a variable valve operating device and a control device. The control device is configured, where depression of an accelerator pedal is released, to: execute a fuel cut processing to control the fuel injection valve so as to stop fuel injection; and execute an engine braking enhancement processing to control the variable valve operating device so as to advance the opening and closing timings of the exhaust valve compared to during execution of the fuel injection. The engine braking enhancement processing includes a noise reduction processing to adjust at least one of the closing timing of the exhaust valve and the opening timing of the intake valve such that a second compression work associated with compression of in-cylinder gas in an exhaust stroke becomes smaller than a first compression work associated with compression of in-cylinder gas in a compression stroke.