Abstract: A three-way proportional pressure reducing valve includes a valve body and a cylindrical valve spool. Five chambers are formed between the valve body and the cylindrical valve spool, respectively a fifth chambers, a first chamber, a second chamber, a third chamber and the fourth chamber. The first chamber connected to a high pressure inlet port P, the second chamber connected to a oil port A and the third chamber connected to a low pressure outlet port T. A first control edge being fitted between the first chamber and the second chamber, a second control edge being fitted between the second chamber and the third chamber. A first passage being located between the fifth chamber and the second chamber for connecting the second chamber to the fifth chamber, a second passage being located between the fourth chamber and the third chamber for connecting the fourth chamber to the third chamber.