A power amplifier circuit includes a lower transistor having a first terminal, a second terminal connected to ground, and a third terminal, wherein a first power supply voltage is supplied to the first terminal, and an input signal is supplied to the third terminal; a first capacitor; an upper transistor having a first terminal, a second terminal connected to the first terminal of the lower transistor via the first capacitor, and a third terminal, wherein a second power supply voltage is supplied to the first terminal, an amplified signal is outputted to an output terminal from the first terminal, and a driving voltage is supplied to the third terminal; a first inductor that connects the second terminal of the upper transistor to ground; a voltage regulator circuit; and at least one termination circuit that short-circuits an even-order harmonic or odd-order harmonic of the amplified signal to ground potential.