A bypass valve, comprising: a main conduit, comprising a first section and a second section; a mobile control shutter; a bypass conduit which places the main conduit in communication with a discharge opening; a control element, mobile between a closed position, at which it closes the bypass conduit, and an open position, at which it opens the bypass conduit; a first piloting conduit, which places the first section in communication with a first piloting side of the control element, in order to pilot the control element towards the closed position; a second piloting conduit, which places the second section in communication with a second piloting side of the control element, in order to pilot the control element towards the open position; a throttle element, interposed between the first section and the second section, structured to produce a load loss which depends on the fluid flow rate in transit along the main conduit; characterised in that: the control element is tubular-shaped and defines internally a section of the bypass conduit; the control element is slidable along a housing provided with a sealing seat; a passageway is predisposed between the control element and the housing which places the first section in communication with the second section; in the closed position, the control element is in contact with the sealing seat and the shutter; in the open position, the control element is detached from the sealing seat and frees the passageway, enabling a flow of fluid. a main conduit, comprising a first section and a second section; a mobile control shutter; a bypass conduit which places the main conduit in communication with a discharge opening; a control element, mobile between a closed position, at which it closes the bypass conduit, and an open position, at which it opens the bypass conduit; a first piloting conduit, which places the first section in communication with a first piloting side of the control element, in order to pilot the control element towards the closed position; a second piloting conduit, which places the second section in communication with a second piloting side of the control element, in order to pilot the control element towards the open position; a throttle element, interposed between the first section and the second section, structured to produce a load loss which depends on the fluid flow rate in transit along the main conduit; characterised in that: the control element is tubular-shaped and defines internally a section of the bypass conduit; the control element is slidable along a housing provided with a sealing seat; a passageway is predisposed between the control element and the housing which places the first section in communication with the second section; in the closed position, the control element is in contact with the sealing seat and the shutter; in the open position, the control element is detached from the sealing seat and frees the passageway, enabling a flow of fluid. the control element is tubular-shaped and defines internally a section of the bypass conduit; the control element is slidable along a housing provided with a sealing seat; a passageway is predisposed between the control element and the housing which places the first section in communication with the second section; in the closed position, the control element is in contact with the sealing seat and the shutter; in the open position, the control element is detached from the sealing seat and frees the passageway, enabling a flow of fluid.