The present disclosure relates to a floating type boost-buck power factor correction (PFC) circuit and a light-emitting diode (LED) drive power supply. The floating type boost-buck PFC circuit includes a filter circuit, a rectifier bridge, a PFC control chip and a voltage sampling circuit, and further includes a PFC circuit; the PFC circuit includes a switching transistor Q1 and switching transistor Q2 with a withstand voltage of 600 V to 650 V, an energy storage inductor T1, a freewheel diode D0, a freewheel diode D1, an electrolytic capacitor E1 with a withstand voltage of 400 V to 450 V, a resistor RO and a capacitor C1. The LED drive power supply includes a DC/DC conversion circuit, an LLC control chip, an LED voltage/current sampling circuit, and the above floating type boost-buck PFC circuit. Compared with the traditional PFC circuit, the floating type boost-buck PFC circuit provided by the present disclosure has the characteristics of simple circuit, a small number of devices, high conversion efficiency, higher stability and lower product cost.