Abstract: An exhaust braking valve is provided for use on an internal combustion engine having an exhaust manifold and a turbocharger associated therewith. The braking valve comprises a hollow section having an inlet communicating with the discharge side of the exhaust manifold and an outlet communicating with the intake for the turbine section of the turbocharger. Disposed within the hollow section is an adjustable member having a flow passage formed therein which, when the member is in a selected first position of adjustment, interconnects the inlet and outlet and effects unrestricted gas flow through the valve. When the adjustable member is in a selected second position of adjustment, a segment thereof assumes a gas flow blocking relation with respect to the inlet and outlet of the hollow section.