The system regulates semi-active running gear on a motor vehicle whose shock-absorbers are adjustable by valves. A relative-velocity sensor (5) is mounted between the wheel (2) and the superstructure (3) and an acceleration sensor (4) on the latter. Velocity and acceleration signals are fed the first directly and the second via a filter (6) to the shock-absorber regulator (7). The latter supplies a setting signal (8) opening or shutting the by-pass valve.