A control valve for a mixed water faucet includes a housing, two sealing gaskets, a control shaft, a ceramic unit, a sealing ring, a sleeve, a pressure balance unit, an adjusting cock, and a fastening member. The pressure balance unit includes a bushing and a spindle. The ceramic unit includes a fixed plate, a movable plate, and a protective jacket. Thus, the movable plate is rotatable relative to the fixed plate to change the connection area between the water outlet chamber of the movable plate and the water inlet chambers of the fixed plate so as to regulate the water flow rate and the mixed proportion of the cold water and the hot water.