A highly efficient LCD driving voltage generating circuit and method consumes a relatively small amount of power, as compared to conventional means. The LCD driving voltage generating circuit comprises a DC-DC converter for boosting an input voltage in response to a clock signal and for outputting the boosted voltage as a first driving voltage; a voltage controlled oscillator for generating the clock signal at a frequency that changes in response to the level of a control voltage; and a control voltage generator for generating the control voltage in response to the difference between a reference voltage and a feedback voltage derived from the first driving voltage. In this manner, as the feedback voltage becomes lower than a reference voltage, the frequency of the clock signal input into a DC-DC converter increases. If the feedback voltage is lower than a predetermined voltage, this indicates that the level of the first driving voltage is lower than a predetermined value, and thus current consumption of the LCD panel is large. It is possible to decrease power consumption and increase boosting efficiency by changing the frequency of the clock signal used for boosting of a DC-DC converter according to the current consumption of the LCD panel.