Disclosed are a multiple-output DC/DC converter and a power supply having the same. The multiple-output DC/DC converter includes a converter including a transformer and a first surge absorbing module, wherein the transformer includes a first switch provided to a primary side and outputs a first voltage to a secondary side, and the first surge absorbing module is connected to the primary side of the transformer and absorbs a surge voltage formed at the first switch by a leakage inductance of the transformer; and a first energy converting module to receive output energy supplied from the first surge absorbing module and output a second voltage.