A voltage regulator comprising: a first voltage reference; an operational amplifier having a first input coupled to an output of the first voltage reference; a P-channel MOSFET (P-MOSFET) adapted as a high-side switch or pass transistor, and having a source coupled to a supply voltage; a power inductor having a first end coupled to a drain of the P-MOSFET; a filter capacitor coupled to a second end of the power inductor and to a second input of the first operational amplifier; first and second signal switches, preferably comprising field effect transistors, each having a common, a first position and a second position, wherein the common of the first signal switch is coupled to an output of the operational amplifier, and a common of the second signal switch is coupled to a gate of the P-MOSFET; a slope compensation network having an input coupled to the first position of the first signal switch, a first comparator having a first input coupled to an output of the slope compensation network, a pulse width modulation generator having an input coupled to an output of the first comparator and an output coupled to the first position of the second signal switch, a timer having an output coupled to the pulse width modulation generator and used to determine a PWM period, a low-side switch coupled to the drain of the P-MOSFET and the first end of the power inductor, and a current sensor coupled to the low-side switch and providing a current signal to a second input of the first comparator; and an amplifier having an input coupled to the second position of the first signal switch and an output coupled to the second position of the second signal switch; wherein when the first and second signal switches (446a, 446b) are in the first positions a current-mode controlled DC-DC converter is formed which is adapted to regulate an output voltage on the filter capacitor wherein the PWM generator controls the P-MOSFET, and when the first and second signal switches (446a, 446b) are in the second positions a linear voltage regulator is formed which is adapted to regulate the output voltage on the filter capacitor wherein the amplifier controls the P-MOSFET. a first voltage reference; an operational amplifier having a first input coupled to an output of the first voltage reference; a P-channel MOSFET (P-MOSFET) adapted as a high-side switch or pass transistor, and having a source coupled to a supply voltage; a power inductor having a first end coupled to a drain of the P-MOSFET; a filter capacitor coupled to a second end of the power inductor and to a second input of the first operational amplifier; first and second signal switches, preferably comprising field effect transistors, each having a common, a first position and a second position, wherein the common of the first signal switch is coupled to an output of the operational amplifier, and a common of the second signal switch is coupled to a gate of the P-MOSFET; a slope compensation network having an input coupled to the first position of the first signal switch, a first comparator having a first input coupled to an output of the slope compensation network, a pulse width modulation generator having an input coupled to an output of the first comparator and an output coupled to the first position of the second signal switch, a timer having an output coupled to the pulse width modulation generator and used to determine a PWM period, a low-side switch coupled to the drain of the P-MOSFET and the first end of the power inductor, and a current sensor coupled to the low-side switch and providing a current signal to a second input of the first comparator; and an amplifier having an input coupled to the second position of the first signal switch and an output coupled to the second position of the second signal switch; wherein when the first and second signal switches (446a, 446b) are in the first positions a current-mode controlled DC-DC converter is formed which is adapted to regulate an output voltage on the filter capacitor wherein the PWM generator controls the P-MOSFET, and when the first and second signal switches (446a, 446b) are in the second positions a linear voltage regulator is formed which is adapted to regulate the output voltage on the filter capacitor wherein the amplifier controls the P-MOSFET.