A single-stage current-balancing multi-channel light-emitting diode (LED) driver is proposed in this study. The conventional LED driver system consists of two cascaded power conversion stages, i.e., an isolation DC/DC converter and LED driver. LED driver is usually implemented with the same number of expensive boost converters as those of LED channels to tightly control the current through each LED channel. Therefore, its overall system size is not only bulky, but the cost is rather high. By contrast, the proposed LED driver system is composed of a single power stage with the DC/DC converter and LED driver merged. Although the current balancing circuit of the proposed LED driver requires only passive devices instead of expensive boost converters, all currents through multi-channel LEDs can be well balanced. Therefore, the proposed LED driver features a small system size, improved efficiency, and low cost. To confirm the validity of the proposed driver, its operation and performance are verified on a prototype for a 46" LED TV.