In the housing 1 of a hydraulic machine, the pressure Pi acts in the chamber 2. For this purpose, a passage opening 4 is provided, which is formed as a valve seat 5. A valve body 6 can be displaced longitudinally in the housing 1 and forms a pressure-tight spring chamber for an inner valve spring 21. The spring chamber is connected to the chamber 2 via a pressure equalizing hole 9. The prestress of the inner valve spring 21 can be set by means of a setting screw 18. In addition, there is an outer valve spring 22. Both the valve springs load the valve body 6 with the effect of closing it. The pressure equalizing valve described combines a compact design with an advantageous flow characteristic. When a maximum value of p.sub.1 is reached, the valve body 6 lifts off the valve seat 5 and hydraulic fluid from the chamber 2 flows away via the valve chamber 3.