A bidirectional (Bi) DC/DC converter is one of the key components in a hybrid energy storage system for electric vehicles and plug-in electric vehicles. Based on the detailed analysis of the losses in the converter, this paper firstly develops a model to theoretically calculate the efficiency of the converter. Then, the influences of temperature, switching frequency, duty cycle and material of switching device on the converter’s efficiency are experimentally investigated. The analysis of the experimental results has shown that (1) The efficiency at the switching frequency of 15kHz is about 2% higher than that of 25kHz. (2) The efficiency at 25°C is similar to that at 85°C for the MOSFET SiC while the efficiency at 25°C is 2% higher than that at 85°C for the IGBT Si for both buck and boost modes. (3) In buck mode, when the duty cycles are decreasing from 66.7%, 50% to 33.33%, the peak efficiencies are also decreasing from 97.6%, 94.5% to 90.3%, respectively. In boost mode, when the duty cycle is increasing from 33.33%, 50% to 75%, the peak efficiency is decreasing from 96.9%, 96.5% to 92.4%, respectively. (4) The developed model can calculate the converter’s efficiency accurately