Dynamic performance is an important index of high-speed on/off valve in the digital hydraulic field. Optimizing the control algorithm is an effective method to improve the dynamic performance of existing high-speed on/off valves. Usually, a high-voltage excitation method is used to realize fast switching of the high-speed on/off valve, but this also leads to a high temperature rise, large energy consumption, and long delay times when switching off. In this article, an intelligent pulsewidth modulation control algorithm is proposed to improve dynamic performance while minimizing temperature rise and energy consumption of high-speed on/off valves. A high-frequency voltage source with full positive, low positive, full negative, and zero duty ratios is applied to drive the high-speed on/off valve in opening, maintaining opened, closing and maintaining closed states, respectively. The adaptive switching of these four duty ratios is realized by real-time current feedback which can estimate the operational state of the high-speed on/off valve, so that the current in the loop is always in the optimal state. A mathematical model of the high-speed on/off valve is built, and based on it, the theoretical formulas for the delay time, temperature rise, and energy consumption of the high-speed on/off valve are deduced. Simulation results indicate that the intelligent pulse-width modulation control algorithm has a better performance in dynamic characteristics than normal high-voltage excitation methods. Moreover, experimental results from a test system indicate that the intelligent pulse-width modulation control has the potential to shorten the opening time by 23.6% and closing time by 17.0%, which confirms the simulation results. Results also showed the ability to extend the controllable working duty ratio by 83.3%, to reduce temperature rise by 69.9%, and reduce energy consumption by 88.8% when compared to the matched controller of the tested high-speed on/off valve. This article presents an effective and practical method to improve the performance of high-speed on/off valves.