The present invention discloses an LED driving circuit and controller, capable of maintaining an average value of a current flowing through an LED module at a predetermined current value. The LED driving circuit and controller compensates influences of any factors deviating the average value of the current flowing through the LED module by modulating a period of constant on time or constant off time, or by modulating the determining value(s) of current peak value and/or current valley value according to a difference between an actual average value and the preset current value.