A control circuit adjusts the output of a power converter by controlling a power switch, in which a primary side of a transformer, the power switch and a sensing resistor are connected in series to ground. The control circuit includes a peak current emulating unit, an error amplifier, a comparator, and a control signal generator. The peak current emulating unit samples sampling voltages from the sensing resistor and obtains a real current sensing voltage and an current sensing voltage using the sampling voltages. The error amplifier receives a fixed reference voltage and a DC voltage generated from the output of the power converter, and generates an error signal. The comparator receives the real current sensing voltage and the error signal and generates a transition signal. The control signal generator receives the transition signal and generates a control signal for controlling the power switch.