Abstract: A water saving faucet valve includes an elongated body having inlet and outlet ends, and high and low pressure chambers interconnected by a coaxial flow channel. A valve stem is slidably retained in the flow channel to move between a lowered position, in which water is prevented from flowing through the valve, and a raised position, in which water is permitted to flow through the valve. The valve stem is raised and lowered by movement of a cam on a shaft that is rotated by movement of an elongated actuation arm, such that the valve can be fully actuated by a slight pressure applied to the arm, and automatically shuts off when the pressure is removed. The valve includes apparatus for coupling it to the outlet of a conventional standard faucet, and may include apparatus for aerating the water flowing through it.