A thermal bypass valve includes a housing defining a bore along a longitudinal axis and having two inlet ports and two outlet ports; a cap disposed within the bore; a shuttle disposed within the bore and reversibly translatable towards and away from the cap along the longitudinal axis between a first fill position, a cooling position, and a bypass position; and an actuator configured for translating the shuttle along the longitudinal axis between the cooling position and the bypass position. The actuator is formed from a shape memory alloy and is transitionable between a first state and a second state in response to a temperature of the fluid.