Dc/dc converter having a fast and accurate average current limit

The present invention relates to a DC/DC converter configured to provide a regulated output voltage and a limited output current to a load, the converter comprising an inductor arranged to conduct a current to the output of the converter; a switch responsive to a pulse width modulation signal and configured to control the current conducted through the inductor as a function of the ON-time when the switch is closed during each cycle of the pulse width modulation signal; and a feedback control responsive to the inductor current and output voltage and configured to provide the pulse width modulation signal to control the operation of the switch so that the inductor current has a peak to peak ripple about an average value for each cycle of the pulse width modulation signal, wherein the feedback control further includes: (a) a clamp for providing a limited clamp voltage as a function of the desired peak current limit during current limit conditions; and (b) a modulator for modulating the clamp voltage as a function of ripple of the inductor current for each cycle of the pulse width modulated signal so as to reduce or cancel the effect of inductor ripple current on the average output current during current limit conditions.