An exemplary current regulating circuit of LED string includes a capacitor, an inductor, a diode, a switch and a detection circuit. First and second terminals of the capacitor respectively are connected to a low voltage and a preset voltage. A first terminal of the inductor is connected to the low voltage. Positive and negative terminals of the diode are respectively connected to a second terminal of the inductor and a high voltage. First and second terminals of the switch are respectively connected to the second terminal of the inductor and the preset voltage. The detection circuit detects the low voltage to thereby switch ON-OFF states of the switch in demand. Moreover, a LED illumination device using the current regulating circuit also is provided.