An oil-cooled screw compressor which can maintain the discharge temperature of discharge gas at an appropriate level is provided. The oil-cooled screw compressor comprises a compressor body, an oil separation/recovery unit disposed in a discharge path extending from a discharge port of the compressor body, and an oil feed path extending from the oil separation/recovery unit and communicating with the compressor body 12. The oil feed path is branched at an intermediate position thereof into a first feed path portion and a second feed path portion. An opening/closing valve is disposed in the first feed path portion, a pressure gauge is disposed in the discharge path, and a control unit is provided to control opening and closing of the opening/closing valve on the basis of a correlation between a discharge pressure detected by the pressure gauge and a predetermined pressure.