An active snubber circuit for a power converter, a method of operating the same and an inductor inductor capacitor converter incorporating the circuit or the method. In one embodiment, the circuit includes: (1) a series-coupled first capacitor and diode associated with a secondary-side switch in the power converter and coupled to an output thereof and (2) an active snubber circuit switch coupled in parallel with the diode and configured to receive a control signal that closes the active snubber circuit switch during at least a portion of a time during which the secondary-side switch is open.