An anti-skid apparatus for installation in a vehicle braking system having a master cylinder, a wheel brake cylinder and a primary fluid passage connecting these cylinders includes a changeover valve disposed in the primary fluid passage to selectively communicate the wheel brake cylinder with the master cylinder or with a reservoir, and a fluid pump for pumping a brake fluid from the reservoir and returning it to a portion of the primary fluid passage between the master cylinder and the changeover valve. The anti-skid apparatus further includes a control valve disposed in that portion of the primary fluid passage. The control valve comprises a piston slidably disposed in a housing, and a valve member slidably disposed in the piston and seatable on a valve seat with a cutout formed thereon. The control valve allows a flow of the brake fluid from the master cylinder and/or the fluid pump to the wheel brake cylinder through the changeover valve without restriction in normal braking operation. In the anti-skid operation, the control valve allows a restricted flow of the brake fluid through the cutout to reduce the increasing speed of the hydraulic pressure in the wheel brake cylinder.