This paper proposes a novel transformerless grid-connected power converter with negative grounding for a photovoltaic generation system. The negative terminal of the solar cell array can be directly connected to the ground in the proposed grid-connected power converter to avoid the transparent conducting oxide corrosion that occurs in some types of thin-film solar cell array. The proposed grid-connected power converter consists of a dc-dc power converter and a dc-ac inverter. The salient features of the proposed power converter are that some power electronic switches are simultaneously used in both the dc-dc power converter and dc-ac inverter, and only two power electronic switches operate at high switching frequency at the same time (one is in the dc-dc power converter and the other is in the dc-ac inverter). The leakage current of the photovoltaic generation system is reduced because the negative terminal of the solar cell array is connected directly to the ground. Finally, a prototype was developed to verify the performance of the proposed grid-connected power converter. The experimental results show that the performance of the proposed grid-connected power converter is as expected.