A high-voltage stabilizing circuit for stabilizing high voltages such as those generated by the fly-back transformer of a television. The stabilizer includes a common-emitter type PNP transistor and an inverse current-absorbing capacitor with a small capacitance in order to provide a high-speed response. The collector of the transistor is connected with the primary coil of the fly-back transformer and the capacitor. The emitter of the transistor is connected with a power source. With this arrangement, even though parabolic wave voltages are generated at the capacitor due to the small capacitance, the PNP transistor hardly cuts off at all and can therefore supply adequate current to the fly-back transformer.