Electro-pneumatic servo valve is an electro-mechanical device which converts electric signals into a proper pneumatic flow rate or pressure. In order to improve the overall performance of pneumatic servo systems, electro-pneumatic servo valves are required, which have fast dynamic characteristics, no air leakage at a null point, and can be fabricated at a low-cost. The objective of this research is to design and to fabricate a new electro-pneumatic servo valve which satisfies the above-mentioned requirements. In order to design the mechanism of the servo valve optimally, the flow inside the valve depending upon the position of spool was analyzed variously, and on the basis of such analysis results, the valve mechanism, which was formed by combination of the spool and the sleeve, was designed and manufactured. Further, the performance of pneumatic servo valve has been verified through an overall performance test on the developed product.