A related power conversion circuit includes a three-level switch circuit and a resonant circuit, and a control method of the related power conversion circuit includes: controlling all transistors in the three-level switch circuit to be turned off, where a body diode connected in parallel to a transistor S1, a body diode connected in parallel to a transistor Q1, and a body diode connected in parallel to a transistor Q2 are all turned on based on a current freewheeling function of the resonant circuit; controlling the S1 to be turned on, to set up a first working state of the power conversion circuit; and after the first working state lasts for a time length T1, controlling the Q1 and the Q2 to be turned on.