A tappet (2) has a hydraulic clearance compensating element (8) composed of a high pressure chamber (18), a housing (3) with a spring-loaded, longitudinally movable compensating piston (15) and a free piston (11) with a smaller diameter than the compensating piston (15). In order to obtain by simple manufacturing means a reduced elasticity in valve operation during the base circle phase of a cam (6), the ratio between the projected surface (20) of the compensating piston (15) that faces the high pressure chamber (18) and the projected surface (19) of the free piston (11) that faces the high pressure chamber (18) is higher than 3.