Hydraulic regulating circuit for controlling a hydraulic setting cylinder, particularly an adjusting cylinder for a work roll in a roll stand, which comprises a cylindrical housing and a piston, which is arranged therein to be displaceable and which divides the housing interior into a first hydraulic chamber and a second hydraulic chamber, wherein the regulating circuit comprises: at least one first hydraulic valve arranged to load the first hydraulic chamber with a hydraulic fluid, wherein the hydraulic pressure of the first hydraulic chamber is settable by way of activation of the first hydraulic valve; at least one second hydraulic valve arranged to load the second hydraulic chamber with a hydraulic fluid, wherein the hydraulic pressure of the second hydraulic chamber is settable by way of activation of the second hydraulic valve; a regulating device (12 - 20), which is provided for activation of the two hydraulic valves (10, 11) and which is arranged in a position regulating state to activate the second hydraulic valve by a position regulating signal dependent on the work setting of the piston and to activate the first hydraulic valve by an adapted position regulating signal, which is a signal generated on the basis of the position regulating signal; characterised in that the regulating device (12 - 20 comprises a switching device which is arranged for switching between the position regulating state and a pressure regulating state, wherein in the position regulating state the first hydraulic valve (10 is, for positioning of the piston, so activated by the regulating device (12 - 20) that the hydraulic pressure in the first hydraulic chamber remains substantially constant, whilst the second hydraulic valve, activated by the position regulating signal, functions as setting element. at least one first hydraulic valve arranged to load the first hydraulic chamber with a hydraulic fluid, wherein the hydraulic pressure of the first hydraulic chamber is settable by way of activation of the first hydraulic valve; at least one second hydraulic valve arranged to load the second hydraulic chamber with a hydraulic fluid, wherein the hydraulic pressure of the second hydraulic chamber is settable by way of activation of the second hydraulic valve; a regulating device (12 - 20), which is provided for activation of the two hydraulic valves (10, 11) and which is arranged in a position regulating state to activate the second hydraulic valve by a position regulating signal dependent on the work setting of the piston and to activate the first hydraulic valve by an adapted position regulating signal, which is a signal generated on the basis of the position regulating signal; characterised in that the regulating device (12 - 20 comprises a switching device which is arranged for switching between the position regulating state and a pressure regulating state, wherein in the position regulating state the first hydraulic valve (10 is, for positioning of the piston, so activated by the regulating device (12 - 20) that the hydraulic pressure in the first hydraulic chamber remains substantially constant, whilst the second hydraulic valve, activated by the position regulating signal, functions as setting element.