A pilot-type two-port valve is disclosed having a water hammer preventing mechanism, operative to prevent a water hammer during valve-closing operation, which includes a valve member operative to open or close a valve and a piston driven by pilot fluid for operating the valve member for opening and closing movements. The water hammer preventing mechanism comprises a piston drive chamber, from which fluid is discharged during valve-closing operation, which has an orifice for restricting the flow rate of discharge fluid whereby when the piston moves to a position to allow the valve member to be close to a valve seat, a portion of an discharge flow passage of the piston drive chamber is blocked to restrict the flow rate of the discharge fluid to the flow rate of fluid flowing through the orifice.