A power regulator includes a pass transistor, a feedback circuit, an error amplifier and a protection circuit. The pass transistor receives an unregulated first power supply voltage, and an output terminal of the power regulator outputs an output voltage varying depending upon a control signal. The feedback circuit senses a current flowing through the pass transistor and generates a feedback signal. The error amplifier compares a reference signal to the feedback signal and generates a control signal varying depending upon a voltage difference between the reference signal and the feedback signal. The protection circuit scales down a current flowing through the pass transistor by a prescribed ratio and changes a voltage of the control signal when the scaled-down current has a value higher than a prescribed value. Accordingly, the power regulator may control a current limit correctly and be capable of implementing a sensing resistor having an appropriate resistance value for providing over-current protection that occupies a smaller chip area.