The invention discloses a digital voltage regulating module with the high fractional load efficiency and the high dynamic characteristic. The digital voltage regulating module comprises a direct-current voltage source, a voltage output end, a first MOS tube, a second MOS tube, a third MOS tube, a fourth MOS tube, a first inductor, a second inductor and a DSC. A main circuit adopts an interlaced BUCK topology circuit and a main switching tube Q1 is conducted with a main switching tube Q3 by being interlaced with the main switching tube Q3 in 180 degrees. Thus, output current ripples are greatly reduced, the ripple frequency of output currents is increased to be two times that of original output currents and the output filter inductance and the output capacitance can be greatly reduced as the ripple frequency is increased. Thus, the dynamic responding speed of a VRM is improved. In addition, in the time of fraction load, two synchronization rectifier tubes Q2, Q4 are switched off, so that inductance currents are continued through a current continuing diode D2s and a fly-wheel diode Ds4. Thus, a single-phase BUCK circuit can work under a DCM mode, switching losses of the switching tubes and magnetic core losses are greatly reduced and the fraction load efficiency of the VRM is greatly improved.