This paper proposes a high-voltage high-efficiency peak-current-mode asynchronous DC–DC step-down converter operating with dual operation modes. The asynchronous buck converter achieves higher efficiency in light load condition compared to synchronous buck converters. Furthermore, the proposed buck converter switches operation mode automatically from pulse-width modulation (PWM) mode to pulse-skipping mode (PSM). By reducing power MOS on-state resistance and optimizing rise/fall time of switches, the proposed buck converter also obtains high efficiency under heavy load condition. The maximum efficiency of the proposed buck converter is 92.9%, implemented with 0.35μm BCDMOS 2P3M process, and the total size is 1.1× 1.2mm2. The input range and output range of the converter are 6–30 V, and (Vinput–3) V, respectively, with the maximum output current of 3 A. Moreover, its built-in current loop leads to good transient response characteristics. Therefore, it can be used widely in communication system and 12 V/24 V distributed power system.