This article presents a novel self-operating flyback converter to boost the ultra-low voltage produced by thermoelectric power generator (TEG). The proposed converter uses dual transformer, one for low-voltage startup and other to extract power from TEG. The use of separate transformer provides high-voltage transfer ratio, reduces high series resistance loss, and brings down the input impedance of circuit. The copper wire wounds ferrite toroid core transformer provides very low series resistance and negligible core loss, which improves the circuit efficiency. This boost converter operates with an input voltage range of 22–300 mV and provides maximum output power of 0.073 – 147 mW correspondingly. The peak efficiency of 68% with output power of 1.32 mW (voltage ~1.83 V) is achieved at an input voltage of 50 mV. For regulated output voltage, a feedback loop is used to keep output voltage constant during sudden voltage rise of TEG. The proposed circuit uses discrete components, ferrite toroid core, and PCB, which has lower cost than available energy harvester module, which uses energy harvesting ICs, discrete components, and tiny transformer. The lower startup voltage, higher output power, and voltage with high conversion efficiency of this boost converter maximize the applications potential of the TEG as a portable power source for Internet of Things (IoT) devices.