The hydraulic shock absorber includes: a first cylinder containing fluid; a piston body including extension-side oil paths permitting flow of oil along with relative movement of the piston rod in the axial direction of the first cylinder; and an extension-side damping valve configured to open and close the extension-side oil paths of the piston body. The extension-side damping valve includes: a valve plate configured to close the extension-side oil paths by covering them and open them by deforming under pressure of oil; and a preload member configured to apply a preload to the valve plate. The preload member includes: a ring-shaped portion; and axis alignment portions configured to protrude from an outer periphery of the ring-shaped portion and contact the piston body to thereby perform axis alignment.