A new continuously variable transmission for bicycles(B-CVT) is developed by using a traction drive mechanism having inner and outer spherical rotors. The B-CVT has high power efficiency, large torque capacity, improved drivability and good packageability. The ratio change mechanism for the B-CVT is very simple, in contrast with other traction drive CVTs. After completing a conceptual design, a performance analysis and a detail design, a prototype of the B-CVT has been manufactured. The prototype has rated power of 100 watts, pedal speed of 6 rad/s and an overall speed ratio of 1.0-4.0. A bench test and an actual bicycle test have been performed to verify the practicability of the B-CVT.