This voltage reference circuit has high thermal stability and minimal bulk and comprises a transistor defining a base-emitter junction having a voltage drop which varies in a non-linear manner as a function of temperature and resistors connected in series to the junction, the junction and the resistors being interposed between a ground line and the output terminal. A compensation transistor generates a compensation current which varies as a function of temperature so as to produce a voltage drop with a behavior substantially opposite to the previous voltage drop upon reaching the switching on temperature of the transistor.