The present invention provides an LED drive chip and circuit that improves the compatibility with a thyristor dimmer, the chip is connected to a peripheral circuit including a thyristor dimmer and an input current sampling resistor, including a hysteresis comparator, a Transconductance module, a first NMOS transistor, a first PMOS transistor, a second PMOS transistor, a second NMOS transistor, a compensation capacitor, an isolation capacitor, a first comparator, and a driving module. The present invention does not increase the input current by directly pulling down the bus voltage Vin, and the increased input current is still part of the output current, so compared with the prior art shown in Figure 1, the efficiency is significantly improved, especially when the output current is small In addition, the present invention does not need to use high-voltage MOS tubes and does not need to add additional chip pins, thereby reducing costs.