A voltage switching circuit is disclosed which is constructed from a minimum number of transistors and prevents the threshold voltage margin from being lowered by causing high-voltage cutoff and supply voltage transfer functions heretofore performed by a single depletion transistor to be shared between two series-connected depletion transistors different in gate insulating film thickness or threshold voltage. Thus, without using enhancement transistors which involve an increase in pattern area a voltage switching circuit can be provided which is small in chip area, low in cost and high in yield and reliability and provides a stable operation with a low supply voltage which is impossible with one depletion transistor.