A hydraulic valve, in particular for a cam phaser of a cam shaft, the hydraulic valve including a supply connection with a check valve for supplying a hydraulic fluid; at least one first operating connection and a second operating connection; at least one first tank outlet and a second tank outlet for draining the hydraulic fluid; a piston that is moveable in a bore hole along a longitudinal direction of the bore hole for distributing the hydraulic fluid from the supply connection to the first operating connection and/or the second operating connection and for conducting the hydraulic fluid from the first operating connection to the second operating connection and from the first operating connection to the first tank outlet and/or from the second operating connection to the second tank outlet; and a sleeve that is arranged in the piston moveable relative to the piston in the longitudinal direction.