This paper describes study on pressure-compensated flow control valve for water hydraulics. A pressure-compensation valve with two throttles in series was installed to suppress cavitation. A pressure-compensation valve has hydrostatic supports to reduce the friction and has a damper to reduce vibration of the valve. The developed flow control valve has adjustable flowrate range of 2.5-20L/min within pressure range of 2-14MPa. Although there are some leakage through hydrostatic supports, discharge flowrate remains almost constant. Flowrate variations is almost 5% in the experimental range. The static characteristics show no hysteresis. The valve is dynamically stable, i.e., no sustained vibration was observed in the range of experiment.