In a switching power converter, no-load condition is detected based on a variety of parameters including the output current, primary current, transformer reset time, and switching period. Once the no-load condition is detected, the switching power converter enters stand-by mode, in which the reference voltage corresponding to the target regulated output voltage of the switching power converter is lowered to a low stand-by value or the switching power converter is shut down for a predetermined duration. As a result, power loss during the stand-by mode of the switching power converter can be reduced significantly.