A DC/DC converter according to the present invention includes first and second transformers, each including a primary winding and a secondary winding, the primary winding including first and second windings, a first diode connected to both ends of a series circuit including the DC power supply, a first switch, and the first winding of the first transformer, a second diode connected to both ends of a series circuit including the DC power supply, a second switch, and the first winding of the second transformer, a first series circuit connected to both ends of the first diode, the first series circuit including the second winding of the first transformer and a smoothing capacitor, a second series circuit connected to both ends of the second diode, the second series circuit including the second winding of the second transformer and the smoothing capacitor, a reactor connected to both ends of a series circuit including the secondary winding of the first transformer and the secondary winding of the second transformer, and a control circuit which turns on and off the first and second switches with a phase difference of half a cycle.