There are provided a current balance circuit having a protection function that prevents the current balance circuit from being damaged during a preset time period by maintaining a constant level of power being supplied to the lamp, and a power supply. The current balance circuit having the protection function includes a current balance unit maintaining current balance of lamp driving power supplied to a lamp unit including a plurality of lamps, and a protection unit detecting the lamp driving power supplied to the lamp unit from the current balance unit, cutting-off the lamp driving power after a preset time period when the lamp operates abnormally, and controlling a voltage level of the lamp driving power to a preset reference voltage level or lower during the preset time period.