This paper is studied on a new DCM-ZVS step up-down AC-DC converter of high performance, that is, high system efficiency and power factor correction (PFC). The switching devices in the proposed converter are operated by soft switching technique using a new quasi-resonant circuit, and are driven with discontinuous conduction mode (DCM) according to pulse width modulation (PWM). The quasi-resonant circuit uses a step up-down inductor and a loss-less snubber capacitor. The proposed converter with DCM also simplifies the requirement of control circuits and reduces the number of control components. The input AC current waveform in the proposed converter becomes a quasi-sinusoidal waveform proportional to the magnitude of input AC voltage under constant switching frequency. As a result, the proposed converter obtains low switching power loss and high efficiency, and its input power factor is nearly in unity. The validity of the analytical findings is confirmed by some computer simulation results and experimental results.