A control device for an internal combustion engine comprising: a feedback controller that is configured to determine a control input of an internal combustion engine by feedback control so as to cause output values of a plurality of controlled variables relating to the internal combustion engine to approach target values that correspond to the output values, respectively; and a reference governor that is configured to: prepare a plurality of candidates for a modified target value; predict future values of a plurality of state quantities of the internal combustion engine for the plurality of candidates for the modified target value using a closed-loop system model that includes the internal combustion engine and the feedback controller; determine whether or not each of the future values conflicts with the constraints imposed on each of the plurality of state quantities; and select, in dependence on the determination of whether or not each of the future values conflicts with the constraints imposed on each of the plurality of state quantities, a modified target value that is applied to the feedback controller so that the constraints imposed on each of the plurality of state quantities are satisfied; characterized in that the plurality of controlled variables are an EGR rate and a turbocharging pressure; and the reference governor is also configured to predict the future values of the EGR rate and the turbocharging pressure in a preset order; in a prediction interval for the future value of the EGR rate, regard the turbocharging pressure as a constant at the start of the prediction interval for the future value of the EGR rate; and in a prediction interval for the future value of the turbocharging pressure, regard the EGR rate as a target value of the EGR rate that is applied to the feedback controller at the start of the prediction interval for the future value of the turbocharging pressure. a feedback controller that is configured to determine a control input of an internal combustion engine by feedback control so as to cause output values of a plurality of controlled variables relating to the internal combustion engine to approach target values that correspond to the output values, respectively; and a reference governor that is configured to: prepare a plurality of candidates for a modified target value; predict future values of a plurality of state quantities of the internal combustion engine for the plurality of candidates for the modified target value using a closed-loop system model that includes the internal combustion engine and the feedback controller; determine whether or not each of the future values conflicts with the constraints imposed on each of the plurality of state quantities; and select, in dependence on the determination of whether or not each of the future values conflicts with the constraints imposed on each of the plurality of state quantities, a modified target value that is applied to the feedback controller so that the constraints imposed on each of the plurality of state quantities are satisfied; prepare a plurality of candidates for a modified target value; predict future values of a plurality of state quantities of the internal combustion engine for the plurality of candidates for the modified target value using a closed-loop system model that includes the internal combustion engine and the feedback controller; determine whether or not each of the future values conflicts with the constraints imposed on each of the plurality of state quantities; and select, in dependence on the determination of whether or not each of the future values conflicts with the constraints imposed on each of the plurality of state quantities, a modified target value that is applied to the feedback controller so that the constraints imposed on each of the plurality of state quantities are satisfied; characterized in that the plurality of controlled variables are an EGR rate and a turbocharging pressure; and the reference governor is also configured to predict the future values of the EGR rate and the turbocharging pressure in a preset order; in a prediction interval for the future value of the EGR rate, regard the turbocharging pressure as a constant at the start of the prediction interval for the future value of the EGR rate; and in a prediction interval for the future value of the turbocharging pressure, regard the EGR rate as a target value of the EGR rate that is applied to the feedback controller at the start of the prediction interval for the future value of the turbocharging pressure.