In this paper, a new high step-up cascaded DC-DC converter is presented. The first stage of the proposed converter is a buck-boost converter with modified converter topology. The second stage is a boost converter with coupled inductor and voltage multiplier cells. The energy stored in the leakage inductor of the coupled inductor is recycled by a passive voltage clamp to a capacitor thereby improving the efficiency. Besides, the blocking voltage across the MOSFET switch is reduced in the proposed topology due to voltage clamp circuit. Thus, a low on-resistance (RDS-on) switch can be used to reduce conduction loss. The steady-state analysis of the proposed converter is presented in the paper. Finally, the proposed converter is simulated in MATLAB/SIMULINK to verify the converter performance.