The invention discloses a flow regulating valve with an overpressure protection function. The flow regulating valve comprises a main valve body and a flow regulating device; a first cavity and a second cavity are formed in the main valve body and communicated through a first communication hole, a fluid inlet is formed in the first cavity, and a fluid outlet is formed in the second cavity; a spring type one-way valve for communicating the first cavity with the second cavity is arranged in the main valve body; the flow regulating device comprises an outer shell, an adjusting screw, a pressure adjusting shaft, a pushing pin and a spring device, the movement distance of an ejection sealing piece at the front end of the pushing pin can be adjusted by rotating the adjusting screw, so that an opening of the communication hole is adjusted, and the flow adjusting function is achieved; and when the pressure of the second cavity is too large, the pressure adjusting shaft and the pushing pin are jacked to overcome elasticity of the spring device to backwards move, the function of the spring type one-way valve is recovered, fluid backflow is prevented, and the overpressure protection function is achieved.