To provide a small-sized and low-cost proportional solenoid valve which is capable of controlling a bidirectional fluid flow. A core is fixed in a pipe, and a hollow shaft having an extreme end thereof closed by a valve seat and a portion adjacent thereto formed with valve holes is fixed in the core. Within the pipe, there are arranged a hollow cylindrical valve element axially movable using the shaft as a guide and urged in a direction away from the core by a spring, for opening and closing the valve holes, and a plunger, while outside the pipe, there is arranged a solenoid coil. The proportional solenoid valve has a body formed by the pipe, and the component parts for opening and closing the valve are arranged within the pipe, so that it is possible to reduce the size of the proportional solenoid valve, the number of component parts, and machining costs and material costs, which contributes to reduction of costs of the valve. Further, since the operation of the hollow cylindrical valve element for opening and closing the valve holes is not adversely affected by the direction of the fluid flow, it is possible to control a bidirectional flow of fluid.