To provide a voltage regulator capable of preventing a reduction in output voltage and an increase in output noise in a steady state without performing suppression of an overshoot. A voltage regulator is equipped with an overshoot detection circuit which detects an overshoot on the basis of an output voltage, an overshoot suppression circuit which controls an output terminal of an error amplifier circuit, based on the output of the overshoot detection circuit, and a driver state discrimination circuit which discriminates the state of an output transistor, based on an output voltage of the error amplifier circuit. The driver state discrimination circuit is configured to control the operation of the overshoot suppression circuit.