A control valve for a variable displacement compressor. The control valve has a valve body for regulating a gas passage. A bellows actuates the valve body in accordance with an operating pressure introduced to a pressure sensing chamber. A solenoid biases the valve body with a force based on the electric current supplied to the solenoid. A cylindrical cap is fitted to a cylindrical portion provided on a housing of the control valve. The bellows is located in the pressure sensing chamber. The axial position of the cap in relation to the cylindrical portion is adjusted such that the bellows is positioned at a specific initial position when a pressure having a predetermined magnitude is introduced to the pressure sensing chamber and when a current having a predetermined value is supplied to the solenoid. The cap is secured to the cylindrical portion by crimping with the bellows positioned at the initial position.