The invention discloses a filling in/pulling out current rapid response linear voltage regulator and a regulating method. The regulator comprises a reference voltage source, two error amplifiers, an N-channel MOS (Metal Oxide Semiconductor) tube I, an N-channel MOS tube II and a static current control unit. The static current control unit consists of a current summing unit, a pulling out current subtracting unit and a filling-in current subtracting unit. In the voltage regulating method, two error amplifiers dynamically monitor the voltage variation of a source electrode of the N-channel MOS tube I and a drain electrode of the N-channel MOS tube II when the pulling-out and filling-in current occur and dynamically control the gate-to-source voltage of two N-channel MOS tubes so that the source voltage of the N-channel MOS tube I and the drain voltage of the N-channel MOS tube II vary toward the same direction. The invention has novel and reasonable design, convenient circuit connection, small area of circular bard and good use effect, ensures the large-load stability and greatly improves the transient response of an LDO (Low Dropout Regulator).