An energy recovery snubber circuit for a power converter which includes a flyback transformer driven by a converter switch is disclosed. The snubber circuit includes two capacitors which are connected such that, when the snubber circuit is connected to a primary winding of the flyback transformer, the capacitors are charged in series by current flowing in a first direction in the primary winding when the converted switch is turned OFF, to recover energy stored in the leakage inductance of the transformer, and discharged in parallel to cause current flow in a second direction in the primary winding of the transformer, to thereby transfer the recovered energy to the transformer.