A switching power supply includes: a rectifying unit; a Bulk capacitor; a converter; a monitoring circuit; a control circuit, controlling discharging of the Bulk capacitor, being configured to perform controls such that the voltage across the Bulk capacitor maintains the peak value after the Bulk capacitor having been charged to a peak value of AC voltage, and to perform controls such that the Bulk capacitor discharges from a peak value when the instantaneous absolute value of the AC voltage is smaller than or equal to the preset voltage. A method for controlling a voltage of a Bulk capacitor in the switching power supply includes detecting an instantaneous absolute value of the AC voltage; comparing the detected instantaneous absolute value of the AC voltage with a preset voltage; and controlling discharging and charging state of the Bulk capacitor according to comparison results.