This paper introduces a new power supply topology for full color LED display module. Firstly, alternating power source from 220V/50Hz or 110V/60Hz power lines was filtered and rectified, and then the rectified source changed into 400V after being corrected by PFC circuits. The 400V source transmitd energy to the auxiliary power supply and other power supply by 400V source bus. The auxiliary power was used for signal processing and controlling PFC circuits. And other switching power supply were used for LED matrix. Experiments show that the new module can conform relative limits of EMC standards(GB17625.1-2003 or compatible IEC1000-3-2), and the PF can be more than 98%, and efficiency of the power conversion is over 82%, so that it’s power consumption is lower than the traditional modules.