System and method for regulating an output current of a power conversion system. An example system controller for regulating an output current of a power conversion system includes a driving component, a demagnetization detector, a current-regulation component, and a signal processing component. The driving component is configured to output a drive signal to a switch in order to affect a primary current flowing through a primary winding of the power conversion system. The demagnetization detector is configured to receive a feedback signal associated with an output voltage of the power conversion system and generate a detection signal based on at least information associated with the feedback signal. The current-regulation component is configured to receive the drive signal, the detection signal and a current-sensing signal and output a current-regulation signal based on at least information associated with the drive signal, the detection signal, and the current sensing signal.