This thesis proposes a high power-factor AC-DC converter with two flyback conversion circuits. The interleaved flyback converters adopt two power MOSFETs as the active switches. With no need to use any auxiliary components and snubber circuit, both active switches can operate at zero-voltage switching on (ZVS) by freewheeling the inductor current through the body diode of the MOSFET. Operating active switches at ZVS can effectively decrease the switching losses, and hence improve the circuit efficiency. As comparing the proposed interleaved circuit with traditional one, the former is with the advantage of lower current and voltage ripples. It helps to decrease the current and voltage stresses on the circuit components. Besides, the circuit reliability can be improved. The detail circuit operation and analysis are provided. A prototype circuit of a 200-W converter was built and tested. The experimental results show that the switching losses can be effectively reduced by operating the active switches at ZVS. The proposed circuit can achieve nearly unity power factor and the measured circuit efficiency is 93.25%.