A vascular valve constructed from a biocompatible material that is designedto be surgically implanted in a patient's blood vessel, such as the rightventricular outflow tract. At the first end of the valve there is an orifice definedby at least two opposing free edges, and which can occupy either a first, closedposition or a second, open position. At the second end of the valve there are atleast two flexible members attachable to an anterior and a posterior wall of apatient's blood vessel. A length of the orifice between said at least twoopposing free edges when the orifice is generally closed is equal to about 1.5to 2 times the diameter of a patient's blood vessel. Optionally, the twoflexible members to a stent or tubular graft. The valved stent or tubular graftcan be inserted into a patient's blood vessel or heart.