This paper presents a high-frequency high-efficiency GaN device-based interleaved critical current mode (CRM) bidirectional buck/boost converter with an inverse coupled inductor. The switching frequency is continually driven to megahertz range with GaN devices due to their small switching loss and driving loss, which greatly reduces the size of the passive components. The coupled inductor further reduces the core volume due to certain dc flux reductions. The equivalent inductance and the impact of the inverse coupled inductor on the CRM buck–boost converter are analyzed in detail. The resonant period in CRM is less with an inverse coupled inductor than with a noncoupled inductor, which is beneficial for the high-frequency operation. The soft-switching range and the circulating energy are both improved using an inverse coupled inductor in CRM. Experimental results validate the theoretical analysis, and the coupled inductor prototype efficiency is 98.5% at 1 MHz, which is 0.3% higher than a prototype with a noncoupled inductor.