A hydraulic valve arrangement with locking and floating function, with a control valve (9), which, for two operating positions (11, 12) connects one motor connection (A) with a pump connection and a second motor connection (B) with a tank connection and vice versa, in a floating position (13) connects both motor connections (A, B) with the tank connection and in a locking position (10) separates both motor connections (A, B) from the pump and tank connections. Further, there are two closing valves (16, 17), each being connected between the control valve (9) and a motor connection (A, B) and each having a piston loaded by a spring and limiting a spring chamber, the spring chambers being pressure releasable. Characteristic of this valve arrangement is that lifting valves (18, 19) are provided for the pressure release, which valves are operated by a control pressure depending on the position of the control valve (9). This improves the operating reliability.