A power supply regulator including a variable current limit threshold that increases during an on time of a switch. In one aspect, a power supply regulator includes a comparator coupled to receive a signal representative of a current through a switch during an on time of the switch. The comparator is further coupled to receive a variable current limit threshold that increases during the on time of the switch. The power supply regulator also includes a feedback circuit coupled to receive a feedback signal representative of an output of a power supply. A control circuit is also included and is coupled to the switch, to an output of the comparator, and to an output of the feedback circuit. The control circuit is coupled to control a switching of the switch in response the output of the comparator and the output of the feedback circuit to regulate the output of the power supply.