const regex = /<div>((?:<div[^>]*>(?1)<\/div>|[^<]*|<(?!div))*)<\/div>/msig;
// Alternative syntax using RegExp constructor
// const regex = new RegExp('<div>((?:<div[^>]*>(?1)<\\\/div>|[^<]*|<(?!div))*)<\\\/div>', 'msig')
const str = `<div>
Lorem ipsum dolor sit amet
</div>
<div>
Lorem ipsum dolor sit amet
</div>
<div>
<div class="media_embed">
<div style="xxx">
<div style="xxx">
<div style="xxx"></div>
</div>
</div>
</div>
</div>
<div>
Lorem ipsum dolor sit amet
</div>
<div class="foo">
<div>FOO</div>
<div class="bar">
<div>BAR</div>
</div>
<div>FOOBAR<div class="foobar"></div></div>
<div class="bar"><div><b>BAR</b></div></div>
<!-- para este caso, deberás ejecutar preg_replace
hasta que no haya nada nuevo por reemplazar -->
<div><div>foobar</div></div>
</div>`;
const subst = `<p>$1</p>`;
// The substituted value will be contained in the result variable
const result = str.replace(regex, subst);
console.log('Substitution result: ', result);
Please keep in mind that these code samples are automatically generated and are not guaranteed to work. If you find any syntax errors, feel free to submit a bug report. For a full regex reference for JavaScript, please visit: https://developer.mozilla.org/en/docs/Web/JavaScript/Guide/Regular_Expressions