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Battery equalization can increase batteries' life cycle, utilization, and reliability. Compared with battery equalization topologies based on resistance or energy storage components, the topologies based on transformers have the advantages of high balancing current and efficiency. However, the existence of switching losses will reduce the reliability and service life span of the equalization circuit. Aiming at resolving this problem, a new battery equalization topology by fly-back transformer with an absorbing circuit is proposed in this paper. Compared with other transformer-based topologies, it can decrease switching losses because the voltage/current spike is solved by the absorbing circuit which is composed of inductance, capacitance and diode (LCD), and it can also maintain a high balancing current of about 1.8 A and high efficiency of about 89%, while the balancing current and efficiency of other topologies were usually 1.725 A/1.5 A and 80%/80.4%. The working principle of the balancing topology and the process of soft switching are analyzed and calculated in the frequency domain. Due to the addition of the LCD absorbing circuit, soft switching can be realized to reduce the switching losses while the high equalization speed and efficiency are still maintained. The corresponding control strategy of the balancing topology is also proposed and the timely balancing is achieved. The theoretical analysis is verified by simulation and experimental results. [ABSTRACT FROM AUTHOR]