The present application discloses a transformer conductive structure, which comprises a primary coiling, a printed circuit board and a secondary coiling unit comprising a plurality of conductive sheets; wherein each conductive sheet comprises an annular body and an output terminal arranged at the edge of the annular body and protruded to the outside; the annular bodies of the conductive sheets and the primary coiling are staggered arrangement together; and the output terminal of the conductive sheet directly clamps on the printed circuit board. The present application further discloses a transformer, which can effectively reduces the output path of the transformer, the AC and DC loss and the volume of the transformer device, so as to increase the power density and efficiency of power supply.