A switch-mode power supply (SMPS) is provided. When the switch power of the SMPS turns on, the inductor current of the SMPS may flow through an inductor current sensing circuit which then provides a sensing voltage. An apparatus for compensating the inductor current peak receives a reference voltage and the sensing voltage as inputs and outputs a compensation voltage. The compensation voltage is combined with the reference voltage and/or the sensing voltage and is provided to a first comparator. The result keep 7t as 7s is provided to the logic control circuit coupled to the gate of the power switch after being driven by a driver circuit. The actual inductor current peak is kept identical with the reference current, which effectively controls the inductor current peak, thereby protecting the SMPS.