The invention discloses interleaved power supplies and corresponding control methods. According to some aspects of the present disclosure, example interleaved power supplies and corresponding controlmethods are disclosed. Example interleaved power supplies include an input terminal, an output terminal, and a first phase circuit coupled between the input terminal and the output terminal. The firstphase circuit includes a first inductor and a first switch. The power supply also includes a second phase circuit coupled between the input terminal and the output terminal. The second phase circuitincludes a second inductor and a second switch. The power supply further includes at least one current sensor, and a controller operable to control the first phase circuit and the second phase circuitin an interleaved mode when the sensed output current is below a current threshold and to control the first phase circuit and the second phase circuit in an in-phase mode when the output current is above the current threshold.