This paper deals with the static and dynamic characteristics of a pressure compensated flow control valve. A nonlinear mathematical model of the valve is developed. The simulation of the valve is carried out using a digital computer on the basis of the developed mathematical model. The validity of the models is verified in the steady state by comparing simulation and experimental results. The dynamic characteristics of the valve are predicted theoretically using the simulation program. The influence of some constructional parameters on the valve Static and dynamic characteristics is investigated and optimum values of these parameters are determined.