A control apparatus for a variable-speed hydraulic power generating system comprising a secondary-excitation type induction generator having a primary winding connected to an a.c. electric power system, secondary-excitation control means connected to a secondary winding of the induction generator for controlling the excitation of the secondary winding of the induction generator according to an externally applied power generation command signal thereby controlling the output of said induction generator, a water turbine for driving said induction generator, a guide vane for adjusting an amount of water to be supplied to the water turbine, a rotating speed command operator for determining an optimum rotating speed command signal based on at least said externally applied power generation command signal, means for detecting a rotating speed of said generator, means for producing a guide-vane opening command signal based on a difference between said optimum rotating speed command signal and the detected rotating speed of the generator, means for controlling an opening of the guide vane according to said guide-vane opening command signal, means for detecting a water pressure applied to said water turbine and means for correcting said guide-vane opening command signal according to a variation of said detected water pressure.