A moisture release valve for an outdoor light including a valve body having a stem received in a valve guide and having a head seating with a valve seat integrally formed of part of a sidewall of a light casing of the light fixture. Valve body is gravity displaced between a closed position and an open position depending upon light fixture orientation and can include a counterweight carried by its stem interiorly disposed within the fixture helping to cause displacement of the valve body toward the desired open or closed position in response to a change in light fixture orientation. Valve body can be a rivet, such as a split rivet, and the counterweight can be a washer, such as an annular washer, having an opening generally in registry with the valve guide permitting fluid within the fixture to drain from the fixture when the valve is open.