Abstract: A gas reclaim regulating valve assembly is described as comprising two chambers by which a diver's exhaled gases can be captured and sent to a gas recovery unit above the water surface. The gas reclaim regulating valve connects to an inlet tube from which the diver's exhaled gas travels from a switchblock. The switchblock attaches to the diver's helmet by way of a switchblock mounting plate. On the opposite end of the switchblock from the mounting plate is a moveable handle by which the circuit to the gas reclaim regulating valve may be opened or closed using one hand. When the circuit is closed, the exhaled gases travel through the inlet tube to the gas reclaim regulating valve wherein it flows through two chambers and out to the gas recovery unit. When the circuit is open, the exhaled gases are expelled out of the system via a one-way valve.