An integrated inductor and a power conversion module including the integrated inductor are provided. The integrated inductor includes a magnetic core, the magnetic core including two cover plates, two side columns and two central columns between the two side columns, and two windings wound around the two central columns respectively, forming two inductors. Each operating current flowing through the two windings includes a corresponding high-frequency current component, a phase difference between the high-frequency current components of the operating currents flowing through the two windings is 180 degrees.