This paper proposes an interleaved buck converter (IBC) with continuous input current, extremely low output current ripple, low switching losses, and improved step-down conversion ratio. Unlike the conventional IBC, the proposed converter has a continuous input current, and its output current ripple is extremely low. The proposed converter has a lower voltage stress in comparison to the conventional IBC and can also provide a high step-down ratio, which makes it a proper choice for high-power applications where a nonisolated step-down converter with low output current ripple and continuous input current is required. Also, the proposed converter can provide current sharing between two interleaved modules without using additional current-sharing control method. All of these benefits are obtained without any additional stress on the circuit components. A prototype converter with 200-V input and 24-V-10-A output is implemented to verify the theoretical analysis. Operational principles and experimental results are presented in this paper.