A Class-D amplifier having a low power dissipation mode includes first and second independent output stages that receive respective first and second level power supply voltages for driving a load coupled to the amplifier output during respective first and second operating modes. Bypass switches are controllable to disconnect the second output stage from the output during the first operating mode and to connect the second output stage to the output during the second operating mode. The operating modes are selected based on the amplifier output power level. First and second independent pre-driver stages receive the respective first and second level power supply voltages for driving the respective first and second independent output stages. During the second operating mode the first pre-driver stage is placed into a low power dissipation state and during the first operating mode the second pre-driver stage is placed into a low power dissipation state.