To provide a valve structure for a hydraulic shock absorber, having such construction that an elongation side damping force generating valve generates damping force as preset.

In the damping force generating valve structure, a valve stopper 3, a pressure side damping force generating valve 6, a piston body 9 and the elongation side damping force generating valve 11 are stacked on a shrunk diameter mounting portion 2 of a piston rod 1 via a mounting hole in the center thereof and each member is fixed to a base end 2a of the shrunk diameter mounting portion 2. The valve stopper 3 consists of a mounting portion 3b, and a pressure side valve storage portion 15 connected to the mounting portion 3b via three or less narrow connection leg portions 3c. The length of each connection leg portion 3c is set to avoid the mounting portion 3b and the pressure side valve storage portion 15 from being located vertically upward from an elongation side port 8. In the pressure side valve storage portion 15, an annular pressure side damping force generating valve 5 is arranged which openably closes a pressure side port 8 with the energizing force of an energizing means 15a provided on the back face thereof.