The Gaussian mixture model (GMM) method is popular and efficient for voice conversion (VC), but it is often subject to overfitting. In this paper, the principal component regression (PCR) method is adopted for the spectral mapping between source speech and target speech, and the numbers of principal components are adjusted properly to prevent the overfitting. Then, in order to better model the nonlinear relationships between the source speech and target speech, the kernel principal component regression (KPCR) method is also proposed. Moreover, a KPCR combined with GMM method is further proposed to improve the accuracy of conversion. In addition, the discontinuity and oversmoothing problems of the traditional GMM method are also addressed. On the one hand, in order to solve the discontinuity problem, the adaptive median filter is adopted to smooth the posterior probabilities. On the other hand, the two mixture components with higher posterior probabilities for each frame are chosen for VC to reduce the oversmoothing problem. Finally, the objective and subjective experiments are carried out, and the results demonstrate that the proposed approach shows greatly better performance than the GMM method. In the objective tests, the proposed method shows lower cepstral distances and higher identification rates than the GMM method. While in the subjective tests, the proposed method obtains higher scores of preference and perceptual quality.