A valve for controlling piston cooling jets in an internal combustion engine is disclosed. The valve includes a valve body equipped with an oil inlet for drawing oil from an oil gallery and an oil outlet for connection with a piston cooling jet gallery. The valve body is equipped with an air inlet for drawing air from an intake manifold of the engine, and with a valve element configured to be actuated by the pressure of the oil entering the oil inlet and of the air entering the air inlet.