A voltage regulator for generators is proposed which, compared with a voltage regulator known, for example, from DE-PS 27 38 897, is supplemented in such a manner that an integral component corresponding to the relative operating time of the field current is formed and this component is fed into the actual control loop. The relative operating time of the field current in this arrangement can be obtained more or less directly from the switching characteristic of the switching transistor (20) for the field current or by means of a sensing resistor (33) in series with the exciter winding (21).