The invention relates to an equalization circuit realizing parallel charging and selective single cell battery equalization discharge and a control method thereof. The equalization circuit is composedof a battery pack, a DC/DC converter, Mosfet switches with anti-parallel diodes, a bus switch K1, a bus switch K2, a bus switch P1, a bus switch P2, a switch Q1, a switch Q2, a switch Q3 and a switchQ4. The equalization circuit can realize parallel charging, when any single cell battery reaches the set cutoff voltage, the single cell battery is isolated from a charging circuit, finally all single cell batteries are stopped charging when reach the set charging cutoff voltage, and the forced balance purpose is achieved. According to the equalization discharge, the battery pack is connected tothe DC/DC converter in parallel to perform equalization on the single cell battery with the lowest state of charge (SOC) in the battery pack. During discharging, the inconsistency between all the single cell batteries can be effectively reduced.