A novel matrix transformer structure along with its winding structure are proposed. 4 transformers are integrated in 1 core and flux cancellation is employed to reduce the flux density in the top and bottom plates of the magnetic core. The primary windings are arranged to fully utilize the copper in the PCB. SR and output are part of the secondary winding to minimize leakage and termination loss. Simple 4-layer PCB can be used for fabrication of the proposed transformer. And more layers of PCB can also be used to reduce loss. Further improvement of the magnetic structure of the proposed matrix transformer is proposed to further reduce the core loss without sacrificing the power density.