A two-channel interleaved boost converter using an integrated magnetic component to reduce the core and copper losses is proposed in this paper. The integrated magnetic component functions as three inductors. All inductor windings are wound on a single EI or EE core. In the proposed winding arrangement, inductors can be designed to have smaller inductances and fewer turns. Some windings of the integrated magnetic component are inversely coupled, which helps to reduce the ripple of the magnetic flux. The equivalent circuit model of the proposed integrated magnetic component and its characteristics are discussed. Experimental results show that the proposed approach can offer significant improvement in efficiency.