A power supply unit comprises a series regulator and a switching DC-DC converter controlled by a PWM signal and connected in parallel with the series regulator, which are switchably enabled by a mode instruction signal depending on the magnitude of a load current. In switching the series regulator and the DC-DC converter, they are simultaneously enabled for a predetermined overlapping time. Further, in changing the operating condition of the DC-DC converter, the width of the PWM signal is shortened to extend the dead time of the DC-DC converter by a predetermined period, thereby suppressing free oscillations and accompanying overshoots that could take place in the power supply unit during switching.