An overcurrent protection system and method are disclosed. In one embodiment the overcurrent protection system includes a first switch connected between a supply voltage and an output voltage. A comparator circuit provides a comparator output signal having first and second values that depend on a comparison of the output voltage relative to the supply voltage, the first value indicating an overcurrent condition. A control circuit is coupled to provide a control signal to a control node of the first switch for controlling the first switch in one of first and second operating modes according to the value of the comparator output signal. The control circuit controls the first switch in the first mode to limit the current through the first switch to a level between predetermined upper and lower current levels in response to the comparator output signal having the first value. The control circuit activating the first switch to a normally on condition in the absence of the comparator output signal having the first value.