An electronically controlled timepiece includes an analog circuit (160) driven by a power source (22), a logic circuit (170) driven by a constant voltage regulator circuit (161) forming part of the analog circuit, an oscillator circuit (51) driven by the constant voltage regulator, a power source switch (162) for cutting off the supply of power to the analog circuit other than the constant voltage regulator circuit from the power source during a time correction operation, and a clock cutoff gate (171) for cutting off a clock input from the oscillator circuit to the logic circuit. During the time correction operation, power consumption is reduced because only the oscillator circuit and the constant voltage regulator circuit are operative. The oscillator circuit is not suspended, and an error in time display is eliminated.