It is of great significance to extract the stray inductance in establishing an accurate wideband model of power modules. The stray inductance is usually extracted by traditional double pulse testing circuit. As the desired voltage and current of the traditional double pulse testing circuit are high, this requirement increases testing safety risks. A new low voltage and low current testing circuit is proposed. The experimental results show that when the MOSFET is turned off, an overshoot occurs in the waveform of VCE, and there is a sudden drop in the current waveform. Compared with the recommended stray inductance of the data manual, the stray inductance extracted by the low voltage and low current testing circuit is in good agreement. It is shown that the low voltage and low current testing circuit is effective in extracting the stray inductance of power modules.