The embodiment of the invention discloses a numerically-controlled linear voltage regulator power supply circuit and method. The power supply circuit comprises a power output stage, an analog-to-digital conversion module, a comparator and a digital-to-analog conversion module. The power output stage is used for receiving input voltage and sending output voltage to the analog-to-digital conversion module. The analog-to-digital conversion module is used for receiving the output voltage sent by the power output stage, conducting sampling and analog-to-digital conversion on the output voltage, converting the output voltage into a corresponding digital signal and sending the digital signal to the comparator. The comparator is used for receiving digitization reference voltage and the digital signal sent by the analog-to-digital conversion module, comparing the digitization reference voltage with the digital signal, generating an output signal and sending the output signal to a compensator and a transient response controller. The digital-to-analog conversion module is used for conducting digital-to-analog conversion on the output signal and inputting the converted signal into the power output stage. By means of the numerically-controlled linear voltage regulator power supply circuit and method, multi-voltage power supply can be achieved in a chip, output of the power output stage can be controlled precisely, and transient response of a numerically-controlled linear voltage regulator is improved.