In a voltage regulator, a reference voltage generating circuit generates a reference voltage. A drive transistor is connected between a first power supply terminal and an output terminal and has a control terminal. A voltage divider generates a feedback voltage which is an intermediate voltage between voltages at the output terminal and a first power supply terminal. A differential amplifier generates an error voltage in accordance with the feedback voltage of the voltage divider and the reference voltage, and transmits it to the control terminal of the drive transistor. An oscillation preventing capacitor is connected between the control of the drive transistor and the output terminal. A capacitor is connected between the first power supply terminal and the first input of the differential amplifier.