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This paper presents a new Multiphase Dual Inductor Hybrid (MP-DIH) Converter for application in data center and telecommunication systems. The converter is based on addition of two output filter inductors to a Dickson switched-capacitor converter. The inductors are operated in multiple phases that are non-overlapped and evenly distributed over one switching cycle, completely soft-charging all flying capacitors even in the presence of practical capacitor mismatches and voltage ripples. In this converter operation, each branch of the switched-capacitor network is activated individually in one charging phase, and two interleaved inductors are employed to softly charge and discharge the capacitors to achieve high efficiency without any complex capacitor sizing or split phase operation. To verify the topology and its soft-charging advantages, a 48V-to-1.8V 20W experimental converter prototype is constructed. The converter achieves 92.4% peak efficiency for 40V-to-1.8V conversion and 92.1% peak efficiency for 48V-to-1.8V conversion at 4A load, and with 20% capacitance variations.