The invention discloses an oil separating valve which comprises a valve body. The interior of the valve body is separated into a valve core cavity and a piston cavity. A piston is arranged in the piston cavity. The piston cavity is separated into a lower piston cavity and an upper piston cavity by the piston. A valve core is arranged in the valve core cavity, and comprises an upper plug, a lower plug and a valve rod, wherein the valve rod is used for connecting the upper plug and the lower plug. The upper piston cavity and the lower piston cavity are respectively communicated with the valve core cavity by oil holes of the upper piston cavity and the lower piston cavity which are arranged in the valve body. The wall of the valve core is provided with an oil inlet hole and an oil outlet hole. The wall of the valve core cavity is provided with an oil inlet circular groove, an oil outlet circular groove and a circular groove of an oil hole of the lower piston cavity. The oil outlet hole of the valve core and an oil hole of the upper piston are communicated by the oil outlet circular groove. The valve core cavity is divided into a communicating space by the valve rod, the upper plug and the lower plug. When the valve core is at the oil outlet position, the communicating space is used for communicating the oil inlet hole and the oil hole of the lower piston cavity. When the valve core is at the reset position, the oil hole of the lower piston cavity and the oil hole of the upper piston cavity are communicated. The oil inlet and the oil outlet are arranged on one side of the valve core cavity of the valve body, thereby simplifying the structure of the oil separating valve and enhancing the mounting efficiency.