A subsea valve actuator is disclosed, comprising an override shaft (6) reaching from inside a fluid filled and pressure compensated actuator housing (1) to the exterior thereof via a bearing and sealing arrangement (7), wherein a visual valve position indicator (14) is arranged exterior to the actuator housing. The visual indicator (14) is pivotally mounted to the override shaft and guided non-rotatably to be forced in axial displacement on the override shaft when the override shaft is rotated, wherein the mounting of the visual indicator (14) on the override shaft (6) is encased in a fluid filled, pressure compensated indicator mounting enclosure (19) surrounding the override shaft (6) in sealing (26) relation outside of the actuator housing (1).