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The purpose of this paper is to examine the occurrence mechanism of the current runaway phenomenon in the overcurrent limited mode of the dc‐dc converter with current injected control. Taking into account the time delay in the turn‐off instant of the switch, which is due to the dead time and the time constant of the control circuit and the dead time of the switch, this phenomenon is analyzed. As a result, it is clarified that there exist two operation modes in the overcurrent limited mode of the dc‐dc converter with current‐injected control; in one mode, the current limiting characteristics are affected by only the dead time of the control circuit and the switch and, in the other one, both the dead time and the time constant of the control circuit and the dead time of the switch have an effect. the current runaway phenomenon occurs in the latter mode. the boundary condition of these two modes is defined. Consequently, the design criterion is presented to prevent the current runaway phenomenon.