At present, the hydraulic systems of electric forklifts and traditional internal combustion forklifts are mostly valve-controlled speed-regulation systems, which have large throttling losses and potential energy waste. To further improve the energy-saving ability of electric forklifts, the forklift’s common working conditions are analyzed in this paper. A throttling loss energy-regeneration system based on pressure difference pump control is designed, and the system’s working principle is described. Aiming to deal with the problem that the pump−valve compound speed regulation with constant pressure difference could not realize high controllability and energy saving at the same time, a control strategy for variable pressure difference pump−valve compound speed regulation based on pressure balance control is proposed. The handle signal is positively related to the target speed of the oil cylinder. In the low-speed stage, the closed-loop control of the actual output torque of the motor/generator keeps the pressure difference across the proportional throttle valve unchanged, and the speed adjustment is realized by changing the opening of the proportional throttle valve. In the high-speed stage, the valve opening area is kept unchanged and the target pressure difference is changed to achieve the target speed. Finally, the feasibility of the control strategy is verified through an AMESim simulation, and the minimum pressure difference switching point is determined through experiments. The experiments show that the system’s energy-saving efficiency can reach 21.5% under a 1 t load. With the increase in the load, the system’s energy-saving efficiency can be further improved.