An electromagnetic proportional pressure regulating valve has the outlet of a pump (50) directed through a small diameter orifice (20) into a chamber (17). A pilot control stage has a needle valve (28) that is controlled by movement of the armature of the solenoid (23). Controlled flow is allowed to pass across the needle valve through a return line (27) connecting with an outlet (B) coupled to the pump inlet. The electromagnetic force of the solenoid opposes that of a spring (31) and a proportional action is produced.