The invention discloses a self-excitation driving and power conversion circuit based on a GaN HEMT device. The self-excitation driving and power conversion circuit adopts the novel GaN-based HEMT device, and improves the working frequency of the circuit to MHz. The device adopts a silicon substrate, and adopts on-chip design of a Q1 transistor and a Q2 transistor, wherein the two transistors share one wafer, so that the size is reduced, the cost is reduced, and the reliability control is improved. The device further adopts an integrated anti-parallel diode structure, so that the reverse conduction characteristic of the device is improved. According to the self-excitation driving and power conversion circuit, through using a third auxiliary winding Na in a main transformer of a power circuit, a self-excitation driving cavity in a positive feedback mode is adopted to automatically provide a driving signal for Q1, a control chip is not needed, and the driving of the Q1 needs to be ensured to be reliable through a special driving buffer circuit for the GaN HEMT device. The self-excitation driving and power conversion circuit further adopts an integrated high-frequency current cycle-by-cycle detection scheme, and shares one coil with the self-excitation driving cavity, so that a current detection resistor is omitted, and lossless current detection is realized.