A switching valve for an internal combustion engine having an adjustable compression ratio. The switching valve includes a switching element having a groove, and a sleeve-shaped connecting section, which has a first bore, which connects the switching valve with a first hydraulic fluid line, a second bore, which connects the switching valve with a second hydraulic fluid line, and a venting bore, which connects the switching valve to a venting duct. The switching element is guided so as to be movable in the connecting section by forming a gap between the surface of the switching element and a corresponding guide face of the connecting section. In a first switched position of the switching valve, the groove connects the first hydraulic fluid line to a venting duct. In a second switched position, the groove connects the second hydraulic fluid line to the venting duct.