A hydraulic valve assembly (1) with a housing (18) and with a spool (2) which is rotatable in the housing (18). The spool comprising a pressure supply orifice (3) and at least one clutch actuating orifice (4, 5) which is connectable to a clutch actuating cylinder (6, 7). The spool (2) comprises a pressure release orifice (8) which is arranged at the spool (2) so that the pressure release orifice (8) is closed by rotational movement of the spool (2) while the clutch actuating orifice (4, 5) is opened by such rotational movement. The invention further relates to a clutch actuating device with such a hydraulic valve assembly (1) and a corresponding marine propulsion system.