A circuit for dynamically controlling current limit protection in switching regulators. The circuit selectively disables the switching circuit of the regulator in response to the detection of an over-current condition. During the over-current condition, the voltage at a switch node is substantially determined by the forward voltage of a diode. This forward voltage is relatively constant as long as there is more than nominal forward current through the diode. As the current through an output inductor and the forward current through the diode approaches zero, the forward voltage of the diode decreases from the relatively constant value. This drop of the diode forward voltage is detected and used to determine the termination of the over-current condition.