A power supply is an essential part of all electronic devices. A switching mode power supply is a light weight power solution for most modern electronic equipment. The high frequency transformer is the backbone of modern switched mode power supplies. The skin effect and proximity effects are major problems in high frequency transformer design, because of induced eddy currents. These effects can result in transformers being destroyed and losing their power transferring function at high frequencies. Therefore, eddy currents are unwanted currents in high frequency transformers. Leakage inductance and the unbalanced magnetic flux distribution are two further obstacles for the development of high frequency transformers. Winding structures of power transformers are also a critical part of transformer design and manufacture, especially for high frequency applications. A new planar transformer with a helical winding structure has been designed and can maintain the advantages of existing planar transformers and significantly reduce the eddy currents in the windings. The maximum eddy current density can be reduced to 27% of the density of the planar transformer with meander type winding structure and 33% of the density of the transformer with circular spiral winding structure at an operating frequency of 1MHz. The voltage ratio of the transformer with helical winding structure is effectively improved to 150% of the voltage ratio of the planar transformer with circular spiral coils. With the evenly distributed magnetic flux around the winding, the planar transformer with helical winding structure is excellent for high frequency switching mode power supplies in the 21st Century.