The present invention relates to a camshaft (1) which comprises an inner shaft (5) which is arranged coaxially in the outer shaft (6). Here, the outer shaft (6) is formed as a round cylindrical tube with a constant inner diameter (d) throughout, that is to say with a stepless inner lateral surface (9). Here, it is essential to the invention that the inner shaft (5) is secured directly against the stepless inner lateral surface (9) of the outer shaft (6) by means of at least one securing device (10) which is arranged axially at the end side of the inner shaft (5).