Provided is a power supply switching circuit capable of suppressing a load fluctuation such as undershoot that occurs at an output terminal at the time of power supply switching. The power supply switching circuit includes: a battery connected to the output terminal; a replica current generation circuit for generating a replica current that is proportional to a current flowing from the battery to the output terminal; a voltage regulator connected to the output terminal, the voltage regulator including a reference voltage circuit, an error amplifier circuit, an output transistor, and a voltage divider circuit; and a current mirror circuit for causing the replica current to flow through the output transistor of the voltage regulator.