The invention discloses an electrolytic capacitor-free LED driving power supply based on flyback converter leakage inductance energy utilization. The power supply comprises an alternative current input power supply, a bridge rectifier circuit, an auxiliary circuit, a main switch tube, a flyback transformer, a rectifier circuit, an output filter capacitor and an LED load. The power supply has the characteristics and advantages that firstly, as energy storage capacitance voltage of the auxiliary circuit is designed into a working mode that direct current voltage is overlapped with large pulse ripple voltage, not only is the dependence of the LED driving power supply on an electrolytic capacitor eliminated, but also flyback converter leakage inductance energy utilization is achieved; secondly, the flyback transformer works in a current interrupted mode, and input power factor correction is achieved; thirdly, due to adoption of the auxiliary circuit, the low frequency pulse power of input power pin and output power po can be balanced, and the constant current can be achieved to drive the LED load through coordination work of the auxiliary circuit and a main circuit.