A DC/DC converter includes a reactor, IGBT devices, a dead time generation unit, and a DC-CPU. The dead time generation unit operates in response to a reference signal for a duty ratio, to output first and second activation signals provided with an inactive period corresponding to a dead time preventing both of the IGBT devices from conducting. The DC-CPU corrects a tentative duty ratio calculated as based on a voltage control value, in accordance with a value of a current flowing through the reactor, to output the reference signal. Preferably the DC-CPU associates the value of the current of the reactor with three states and when the value approaches a value at which a state transitions to a different state, the DC-CPU gradually switches a correction value.