A balanced forward-flyback converter for high efficiency and high power factor using a foward and flyback converter topologies is proposed in this paper. The conventional AC/DC flyback converter can achieve a good power factor but it has the high offset current through the transformer magnetizing inductor, which results in a large core loss and low power conversion efficiency. And, the conventional forward converter can achieve the good power conversion efficiency with the aid of the low core loss but the input current dead zone near zero cross AC input voltage deteriorates the power factor. On the other hand, since the proposed converter can operate as the forward and flyback converters during switch turn-on and turn-off periods, respectively, it cannot only perform the power transfer during an entire switching period but also achieve the high power factor due to the flyback operation. Moreover, since the current balanced capacitor can minimize the offset current through the transformer magnetizing inductor regardless of the AC input voltage, the core loss and volume of the transformer can be minimized. Therefore, the proposed converter features a high efficiency and high power factor. To confirm the validity of the proposed converter, theoretical analysis and experimental results from a prototype of 24W LED driver are presented.