The invention provides a multi-stage throttling labyrinth pressure reducing valve which comprises a spring cover, a shell and a lower end cover. An adjusting nut is arranged at the upper end of the spring cover, an adjusting spring is arranged between the adjusting nut and a valve element, a return spring is arranged between the valve element and the lower end cover, the valve element is located in a sliding sleeve, the sliding sleeve is fixed in the shell, the shell forms a high-pressure cavity of an inlet and an outlet, a transition cavity is formed in the valve element, the shell and the sliding sleeve form a low-pressure cavity I, the lower end cover and the valve element form a low-pressure cavity II, the sliding sleeve and the valve element are correspondingly provided with upper throttling ports which communicate with the low-pressure cavity I and the transition cavity, the sliding sleeve and the valve element are correspondingly provided with middle throttling ports which communicate with the high-pressure cavity and the transition cavity, and the valve element is provided with a lower throttling port which communicates with the low-pressure cavity II and the transition cavity. The multi-stage throttling labyrinth pressure reducing valve has the advantages that pressure regulation is smooth and accurate, the anti-interference capability of the valve is improved, the structure is simple, maintenance is convenient, the service life is long, the cavitation risk of primary throttling high pressure difference is reduced, medium pressure feedback is more sensitive, and precision is higher.