The present invention provides a multi-phase switching regulator and a droop circuit for use in the multi-phase switching regulator. The multi-phase switching regulator generates pulse width modulation (PWM) signals according to an output voltage and a droop signal, to drive a plurality of switching sets to convert an input voltage to the output voltage. The droop circuit detects the sum of the currents generated by the plurality of switching sets and provides the droop signal which is related to the sum of the currents to the multi-phase switching regulator. The droop signal can be used for over current protection (OCP) or for the droop control.