A technique facilitates rapid transitioning of a valve, e.g. a gate valve. According to an embodiment, a system comprises a valve actuator constructed for coupling with a valve to actuate the valve between closed and open positions. Hydraulic actuation fluid may be supplied to the valve actuator under pressure via a hydraulic supply system to enable selective shifting of the valve actuator, and thus the valve, from a closed position to an open position. The system also comprises a dump tank coupled to the valve actuator in a manner to receive hydraulic fluid. In a rapid valve actuation operation, e.g. closing operation, the dump tank receives hydraulic fluid from the valve actuator rather than returning the hydraulic fluid to the hydraulic supply system. This, in turn, enables rapid shifting of the valve actuator and thus rapid shifting of the valve.