A clock-less two-phase DC-DC converter with soft-switching with voltage-mode resonant switch is presented in this paper. The two-phase DC-DC converter is well known to obtain large load current, and it can reduce output voltage ripple although it is difficult for a clock-less converter to achieve two-phase control. As a core index for a two-phase converter, the importance about the current balance is stated and various simulations around the current balance are carried out. It is confirmed that the proposed two-phase DC-DC converter has good performance in current balance for large load current transient. Furthermore, it shows that the two-phase current balance shifts no more than 1% when the phase displacement between the two-phase current shifts.