An expansion valve of the present invention has a structure which integrates a refrigerant flow divider. The expansion valve includes a refrigerant flow dividing chamber 6 on the downstream side of a first throttle 10. Flow dividing tubes 12 are connected to the refrigerant flow dividing chamber 6. In the expansion valve, refrigerant which has passed through the first throttle 10 is sprayed into the refrigerant flow dividing chamber 6, so that the flow dividing characteristic of the refrigerant is improved. Also, due to an enlargement of the passage in the refrigerant flow dividing chamber 6, the ejection energy of a flow of the refrigerant ejected from the first throttle 10 is dispersed, whereby a discontinuous refrigerant flow noise is reduced.