A solenoid driver circuit for a solenoid-operated fluid dispenser in which a valve is operable to dispense a fluid under the control of the solenoid. The driver circuit receives externally applied turn-on and turn-off signals and energizes the solenoid in response to these signals. The driver circuit is responsive to a turn-on signal to couple a pull-in voltage across the solenoid to pull in a solenoid valve armature. The driver circuit is also operable to sense the level of current in the solenoid. When the solenoid current reaches a preset peak current level, the pull-in voltage is removed from the solenoid and replaced by a hold-in voltage. When the hold-in voltage is applied to the solenoid, the driver circuit is operable to control the level of the hold-in voltage in order to maintain a preselected hold-in current in the solenoid. The driver circuit controls the solenoid current so that it makes a gradual transition from the peak solenoid current level to a steady state hold-in current level. The voltage applied to the solenoid to establish the steady state hold-in current is removed by the driver circuit in response to an externally applied turn-off signal.