A variable pitch fan in which the pitch of the fan blades is varied under control of a controller according to the speed of the fan. The controller is programmed to respond to increased fan speed by decreasing pitch of the fan blades. The variable pitch fan has a piston extending axially from a main shaft, about which main shaft a fan blade hub rotates. A pitch shifter is mounted on a cylinder, which itself is mounted on the piston. The pitch shifter is actuated by hydraulic fluid supplied through the main shaft to the cylinder. The piston is preferably axially stationary in relation to the main shaft. The cylinder is secured against rotational movement by cooperating out of round surfaces. Grease for the pitch shifter is supplied through the guide pin. One guide pin may be used for grease supply, while another may be used for excess grease return. Cooling of a pitch shifter may be accomplished using a heat sink mounted within the fan hub, preferably in a fan configuration, to conduct heat away from the cylinder into air rotating within the fan hub. Counterweights are mounted on each fan blade of a variable pitch fan, preferably hydraulically actuated, in a position which generates a torque opposite in direction to torque generated by the fan blades. The counterweights may be overbalanced, underbalanced, or balanced.