Provided is a switching regulator capable of performing stable start-up with a soft-start operation without causing excessive extension of a soft-start time period. In a start-up period, a voltage approximating a feedback voltage (FB) is provided as an initial value of a soft-start reference voltage. The feedback voltage (FB) and the soft-start reference voltage become substantially equal to each other at a moment when the start-up is completed, to thereby realize a smooth transition of an operating state from the start-up to normal control.