An exhaust heat recovery system, comprising: a main exhaust gas pipe for passing an exhaust gas of an engine; a circumvention exhaust gas pipe, which diverts from the main exhaust gas pipe; a valve device, which is disposed in a midway of the main exhaust gas pipe and the circumvention exhaust gas pipe; and a heat exchanger, which is connected to the midway of the circumvention exhaust gas pipe and on a downstream side of the valve device; wherein the valve device comprises: a body that has at least one passage (11, 12) for passing a fluid and valve shaft holes (13, 14, 15); a valve shaft, which is passed through the valve shaft holes (13, 14, 15) so as to be rotatable; and at least one butterfly valve (30, 40), which is fixed to the valve shaft and is for opening and closing the passage (11, 12); wherein the butterfly valve (30, 40) is disposed so as to close the passage (11, 12) on a downstream side or an upstream side of the valve shaft holes (13, 14, 15) in a flow direction of the fluid; the body has a first passage for passing the fluid, a second passage for passing the fluid, and the valve shaft holes (13, 14, 15) formed so as to cause the first passage to communicate with the second passage, wherein the main exhaust gas pipe is connected to the first passage; a first butterfly valve for opening and closing the first passage, and a second butterfly valve for opening and closing the second passage in a phase opposite to the first butterfly valve are fixed to the valve shaft; the first butterfly valve is disposed so as to close the first passage on the downstream side of the valve shaft holes (13, 14, 15); and the first butterfly valve is disposed so as to close the first passage on the downstream side which deviates from the central line of the valve shaft holes (13, 14, 15) for a distance greater than the radius of the valve shaft holes (13, 14, 15). a body that has at least one passage (11, 12) for passing a fluid and valve shaft holes (13, 14, 15); a valve shaft, which is passed through the valve shaft holes (13, 14, 15) so as to be rotatable; and at least one butterfly valve (30, 40), which is fixed to the valve shaft and is for opening and closing the passage (11, 12); wherein the butterfly valve (30, 40) is disposed so as to close the passage (11, 12) on a downstream side or an upstream side of the valve shaft holes (13, 14, 15) in a flow direction of the fluid; the body has a first passage for passing the fluid, a second passage for passing the fluid, and the valve shaft holes (13, 14, 15) formed so as to cause the first passage to communicate with the second passage, wherein the main exhaust gas pipe is connected to the first passage; a first butterfly valve for opening and closing the first passage, and a second butterfly valve for opening and closing the second passage in a phase opposite to the first butterfly valve are fixed to the valve shaft; the first butterfly valve is disposed so as to close the first passage on the downstream side of the valve shaft holes (13, 14, 15); and the first butterfly valve is disposed so as to close the first passage on the downstream side which deviates from the central line of the valve shaft holes (13, 14, 15) for a distance greater than the radius of the valve shaft holes (13, 14, 15).