A power conversion module, a vehicle-mounted charger, and an electric vehicle may be used in the field of new energy vehicles. The power conversion module includes a power factor correction PFC module and a first direct current-direct current DC-DC converter. A first primary circuit of the first DC-DC converter has a first bridge arm, a second bridge arm, a third bridge arm, and a fourth bridge arm. A first switch is disposed between the first bridge arm and an inductor at an interface of the PFC module, and a second switch is disposed between the third bridge arm and another interface of the PFC module. When the first switch and the second switch are turned on, a secondary circuit of the first DC-DC converter may implement a function of a primary circuit of a second DC-DC converter; the second bridge arm and the fourth bridge arm may implement a function of a secondary circuit of the second DC-DC converter; and the first bridge arm, the third bridge arm, the inductor of the PFC module, and a capacitor of the PFC module may form an inverter module, so as to implement an inverse discharging function.