A step-up/down power supply, in which a circuit area is small, includes a step-down unit that generates an output voltage lower than an input voltage by turning on or off a step-down switch in which the input voltage of the step-up/down power supply is applied, and a step-up unit that generates an output voltage higher than the input voltage by turning on or off a step-up switch in which a ground is applied. A step-down gate voltage control circuit controls a gate voltage of the step-down switch and includes a gate voltage generating circuit that generates a first voltage and a second voltage for turning on the step-down switch. A gate voltage switching circuit switches between the first voltage and the second voltage, and the gate voltage generating circuit includes a first voltage source that generates the first voltage and a second voltage source that generates the second voltage.