A hydraulic control circuit for a radial piston engine with two speeds. The changeover between the speeds takes place through the alteration of the absorption volume, the delivery side being connected to the discharge side with a bypass connection by a valve arrangement for a selected number of engine pistons. The control circuit provides a space-saving way of ensuring that the changeover between speeds occurs smoothly and in such a manner to preserve the individual components as far as possible. To this end, at least one intermediate switching position, in which the delivery side is throttled to the discharge side, i.e. connected by a diaphragm-type arrangement, is provided in front of valve arrangement between the two end switching positions. The valve arrangement is preferably driven such that a valve body can be moved through the intermediate switching position at a controlled speed.