Traditional current-mirror methods require one fixed current reference for controlling other current source or sources. In this paper, a new self-configurable current-mirror method that can dynamically determine the best current branch as the current reference in order to ensure good balance of all parallel current sources is proposed. The operating principle involves a dynamic and self-configurable transistor-based current-balancing circuit that can be operated in saturation or linear mode. In either operating mode, good current balance or sharing among all parallel-connected current sources can be guaranteed. The novel current-balancing circuit does not require a separate power supply for powering their control circuits. The proposal is a modular one that can be expanded to any number of parallel current sources. Its principle has been successfully applied to current balancing of parallel LED strings.