A control system for an automatic transmission includes a first frictional engagement element and a second frictional engagement element; and a first hydraulic servo for controlling the application/release of the first frictional engagement element and a second hydraulic servo for controlling the application/release of the second frictional engagement element. A regulator valve regulates the oil pressure to the first hydraulic servo. A signal pressure is applied to the regulator valve to establish a predetermined gear stage by switching the applied/released states of the first frictional engagement element and the second frictional engagement element by feeding/releasing oil pressure to/from the first hydraulic servo and the second hydraulic servo. The regulator valve includes a valve member having: a first pressure receiving area to which is applied the feed pressure to the first hydraulic servo as a feedback pressure in a first direction; a second pressure receiving area to which is applied the signal pressure in a second direction opposite the first direction; a fourth pressure receiving area to which is applied the feed pressure to the second hydraulic servo in the first direction, in a shift wherein the first frictional engagement element is released while the second frictional-engagement element is applied; and a third pressure receiving area to which is applied the signal pressure in the second direction, for regulation of the oil pressure only during a shift.