The double action float valve is connected to a single pipe and a tank and controls both the filling and discharge of the tank. The double action float valve utilizes a valve body, a heavy filling obturator positioned within the valve body, a light inverse obturator positioned within the heavy filling obturator, and a float connected to the heavy filling obturator. When the inflow pressure from the pipe is greater than the outflow pressure of the tank, the tank is filled until the float reaches a predetermined level. When the outflow pressure of the tank is greater than the inflow pressure, the double action float valve is automatically reconfigured to discharge the fluid from the tank into the pipe.