The present disclosure relates to a ventilation valve configured to be mounted to a liquid reservoir of an electronic atomizing device. The ventilation valve includes: a valve sleeve connected to the liquid reservoir and provided with a through hole, the through hole in communication with a storage cavity of the liquid reservoir; and a valve element having air permeability and including an oleophobic material layer adjacent to the storage cavity, and a semi-permeable membrane connected to an end of the oleophobic material layer away from the storage cavity, the oleophobic material layer filling at least a part of the through hole.