A novel voltage regulator includes an indictor, a switching transistor, a rectifier, an error amplifier circuit, a first voltage comparator circuit, a second voltage comparator circuit, an oscillator circuit, and a driver circuit. The first voltage comparator circuit outputs a modulation signal. The second voltage comparator circuit activates an enable signal when the error voltage exceeds the second reference voltage. The oscillator circuit outputs a clock signal with a fixed frequency according to the enable signal. The oscillator circuit enters a first state when the enable signal is activated and deactivated within a period of time shorter than a threshold time, and enters a second state when the enable signal remains activated during a period of time longer than the threshold time. The driver circuit generates the switching control signal based on the clock signal and the modulation signal.