Averaged models: an AC large signal, DC and AC small signals of a current-controlled buck converter are described. Only peak current mode control of a converter working in the continuous conduction mode (CCM) is considered. The model derivation differs from the typical approaches presented in the literature and doesn’t refer to the multi-loop concept of a current controlled converter. The separation of the variables method is used in the model derivation. The resulting models are presented in the form of an equation set and equivalent circuits. The calculations based on the presented models are verified by measurements and full-wave PSpice simulations.