A power converter includes a full-bridge converter circuit and a regulation circuit. The full-bridge converter circuit includes a full-bridge circuit having a first and a second input terminals and a first and a second output terminals. The regulation circuit is bridged across the first and the second input terminals of the full-bridge circuit and connected to the first output terminal of the full-bridge circuit. The regulation circuit is configured for operatively regulating an output voltage across the first and the second output terminals of the full-bridge circuit by cooperating with the full-bridge converter circuit, such that the output voltage across the first and the second output terminals of the full-bridge circuit has more than three voltage levels. A method for controlling a power converter is also disclosed herein.