The invention relates to a multi-phase power supply regulator and a temperature balance control method thereof. The method comprises: providing a multi-phase power supply regulator which includes a controller and a plurality of power stages, transmitting a plurality of control signals to the plurality of power stages respectively by the controller. Each of the plurality of power stages includes a temperature sampling unit, wherein outputs of the temperature sampling units are connected in parallel and the plurality of power stages outputs a temperature detection signal. The invention determines one of the plurality of power stages comprising highest temperature by sequentially adjusting the control signals, the temperature of the power stage is reduced, and the temperatures of the multi-phase power supply regulator are balanced.