The invention provides a processing circuit with multiple power supply ports and an electronic device. The processing circuit includes: N power supply ports; a first-level power supply; N middle transmission modules, connected between the first-level power supply and the corresponding power supply port, wherein at least one of which is used as a second-level power supply; and a charging protocol control module. The charging protocol control module is respectively connected to the first-level power supply, the N power supply ports, and the N middle transmission modules. The second-level power supply operates in a switching power mode or a pass through mode. In the pass through mode, the output voltage of the second-level power supply matches the input voltage received by the first-level power supply, and the output voltage of the second-level power supply is not adjustable.