A discrete iterative map model of valley V2 controlled Boost converter is established, based on which the bifurcation diagrams are obtained with the variation of input voltage, output capacitance and its equivalent series resistance (ESR). Jacobi matrix at a fixed point is also derived, and according to it, the converter stability is analyzed using characteristic values and maximum Lyapunov exponent, thus the correctness of bifurcation analysis is validated. The effect of input voltage, output capacitance and its ESR on the dynamic characteristics of valley V2 controlled Boost converter is mainly investigated. It is found that as the input voltage increases continuously, the valley V2 controlled Boost converter changes from continuous conduction mode (CCM) period-1 to CCM period-2 due to period-doubling bifurcation, and comes into CCM chaos due to border collision bifurcation. The converter has the same bifurcation routes at output capacitance and its ESR: with gradual reduction of output capacitance or its ESR, the valley V2 controlled Boost converter behaves the evolutive dynamic behavior from CCM period-1 to CCM period-2, CCM period-4, CCM period-8, and CCM chaos. Finally, the simulation and experimental circuits are set up, and the correctness of theoretical analysis is verified by simulation and experimental results.