A hydraulic variable compression ratio (VCR) piston for use in an internal combustion engine. The piston is a two-part piston, in which a gudgeon pin carrier slides within an outer sleeve. A variable volume upper chamber is formed between the top of the gudgeon pin carrier and the end of the outer sleeve. When the upper chamber fills with oil, its volume increases, and the overall piston geometry is longer. This reduces the piston clearance in the cylinder and increases cylinder pressure. At a given maximum cylinder pressure or at a given rate of increase of cylinder pressure, oil from the upper chamber is relieved by using a rate-sensitive pressure relief valve.