An extensive small-signal analysis of a voltage-mode controlled interleaved dual boost (IDB) converter operating in continuous current mode based on signal flow graph approach is proposed. Small-signal flow graph is developed, from which open-loop small-signal transfer functions are derived using well known Mason's gain formula. Closed-loop small-signal input-to-output, control-to-output transfer functions are also derived and frequency response characteristics are determined at different duty ratios. Voltage-mode compensator designed using K-factor approach is used for closed-loop operation of IDB converter. Load voltage regulation against supply voltage and load disturbances are demonstrated through experimental results.