An envelope detecting circuit is provided. The envelope detecting circuit comprises a source degeneration circuit that amplifies an input differential signal, a differential gain stage that supplies a voltage proportional to the amplified signal, a potential hold circuit that holds the voltage supplied from the gain stage, a comparator circuit that compares the voltage held by the potential holding circuit with a reference potential to output a detect signal, and envelope level adjustment and selection unit that responds to the detect signal and outputs a control signal to the source degeneration circuit.