A gas venting check valve assembly for connection between the discharge end of a submergible, centrifugal pump in an oil well and the inlet end of a delivery tubing, having a valve member which normally opens under the influence of the oil being pumped and seats under the weight of the column of pumped oil above the pump when the pump is stopped or when the gaseous content of the fluid being pumped is sufficient to prevent the maintenance of the necessary pressure to support the column of pumped oil. The valve housing is provided with a gas vent passageway below the valve seat which is closed by the valve proper when the latter is in open position and is opened to permit the venting of gas when the valve proper is seated.