In this paper, a practical small-signal model based on the two phased interleaved parallel-series active clamp forward (ACF) with peak current control is proposed. Different from the conventional voltage control, the peak current control in this converter has exhibited two different transfer functions divided by the boundary duty cycle of 0.5. In order to verify the validation of the model, the comparison among the calculation results, simulation results and the measurement results based on the LM5034 application are conducted. It is shown that the proposed open-loop transfer function on this converter is very useful due to the good agreement with both the simulation result and measurement result. So, the model proposed in this paper can be applied for the practical design to achieve better loop prediction.