To provide a low-priced pressure reducing control valve capable of effectively restricting the generation of cavitation due to high-pressure fluid and having a long service life.

In the pressure reducing control valve provided with a pressure reducing device 4 and a valve plug 5 between a fluid inlet 2 and a fluid outlet 3, the pressure reducing device 4 is formed into the structure that two kinds of annular disks having a plurality of bent passages are piled, and the two kinds of the annular disks make a pair to form a bent passage in the piling direction.