Based on PEBB concept, a Multi-Phase Bidirectional DC-DC Converter is proposed. The Signal Flow Graph SFG models for CCM and DCM mode with positive power flow or reverse power flow are deduced. The Dual closed loop controller are designed to improve system stability and dynamic performance. The current/voltage ripples are analyzed thoroughly. The design of coupled inductors is given. Finally, a prototype of 150kVA bi-directional DC-DC converter is developed. With this converter system, the high output voltage and high current is possible with low cost. Experimental results are provided to confirm the analysis and control concept.