A parallel DC-DC converter without current sharing outer loop was designed. The average current mode was adopted to control the maximum programmed inductor current to achieve accurate current sharing of the parallel converter. The small signal model was used to analyze the current-sharing error and stability of the parallel converter. The circuit had stable current characteristics and fast transient response. An excellent load current regulation ability were achieved. The simulation results showed that the current sharing error was below 8 ‰. The current-sharing balance could be restored in 1.5 ms when the parallel converter had a load jump between heavy and light load, and could be re-established in 0.7 ms if a new converter was inserted.