Abstract: The explosive magnetic flux compression generator (FCG) is a kind of compact pulsed power source with relatively low characteristic impedance. To match the impedance of the generator and the load in kinds of applications, some special power conditioning circuits are always in need. In this paper, a power conditioning circuit based on the electro-exploding opening switch (EEOS) and pulsed transformer is investigated. By analyzing the equivalent circuit of the system where the generator is replaced by a capacitor, a key factor determining the performance of the power conditioning circuit is discussed, as well as its solution. Based on the analysis, the power conditioning circuit with coaxial structure is designed. In the preliminary experiments, the capacitive load was charged to a peak voltage of -267 kV when the crowbar switch used to remove the additional voltage across the fuse kept open, and it was charged to -374 kV when the crowbar switch closed during the opening process of the EEOS. The analysis conclusions are basically proved by these experimental results. And the power conditioning circuit introduced is proved to be efficient to match the impedance of the FCG and high-impedance load