The object of the present invention is to provide a capacity control valve for a variable displacement compressor, which is not adversely affected by pressure from a pressure-regulating chamber. A three-way valve structure is formed in which a high-pressure valve element and a low-pressure valve element are integrally formed at both ends, and valve seats with valve holes having the same diameter are arranged in a manner opposed to the respective valve elements. A discharges pressure is supplied from the upstream side of the valve seat, and a suction pressure is supplied from the downstream side of the valve seat. Pressures from a pressure-regulating chamber are received at the downstream side of the high-pressure valve element and the upstream side of the low-pressure valve element. Further, a solenoid is included for applying a load corresponding to a differential pressure at which the variable displacement compressor starts capacity control, to the high-pressure valve element and the low-pressure valve element, by a shaft via a valve hole of the valve seat. The valve holes are formed to have the same diameter, whereby it is possible to cancel out the pressures from the pressure-regulating chamber and perform capacity control only in response to the differential pressure between the discharge pressure a and the suction pressure.