A system and method for cell balancing with smart low-voltage control circuit. The cell balancing system comprises a plurality of battery cells, an external bypass path for each cell, an internal bypass path for each cell, an input terminal receiving an enable signal for each cell, an input terminal receiving a selection signal, and a cell balancing unit for generating a configuration signal to conduct the external bypass path or internal bypass path. The enable signal is configured to enable a bypass current of each cell, and the selection signal is configured to select the external bypass path or internal bypass path. The cell balancing unit is employed to receive signals from input terminals, and generate a configuration signal to control the conductance of external bypass paths or internal bypass paths.