We propose a heat valve based on the interplay between thermal transport and proximity-induced exchange splitting in Josephson tunnel junctions. We demonstrate that the junction heat conductance strongly depends on the relative alignment of the exchange fields induced in the superconductors. Colossal magneto-heat resistance ratios as large as 10^7% are predicted to occur under proper temperature and phase conditions, as well as suitable ferromagnet-superconductor combinations. Moreover, the quantum phase tailoring, intrinsic to the Josephson coupling, offers an additional degree of freedom for the control of the heat conductance. Our predictions for the phase-coherent and spin-dependent tuning of the thermal flux can provide a useful tool for heat management at the nanoscale.