An interleaved DC/DC converter with series-connected transformers is presented to implement the features of zero voltage switching (ZVS), load current sharing and ripple current reduction. The proposed converter includes two half-bridge converter cells connected in series to reduce the voltage stress of the switches at one-half of the input voltage. The output sides of the two converter cells with interleaved pulse-width modulation are connected in parallel to reduce the ripple current at the output capacitor and to achieve load current sharing. Therefore, the size of the output chokes and the capacitor can be reduced. The output capacitances of the MOSFETs and the resonant inductances are resonant at the transition instant to achieve ZVS turn-on. In addition, the switching losses on the power switches are reduced. Finally, experiments on a laboratory prototype (24V/40A) are provided to demonstrate the performance of the proposed converter.