Electronic load (e-load) is essential equipment for power converter performance test, where a designated load profile is executed. Electronic load is usually implemented with the analog controller for fast tracking of the load profile reference. In this paper, a low-power low-cost electronic load is proposed. MOSFETs (metal-oxide-semiconductor field-effect transistors) are used as the power consumption devices, which are regulated to the active region as controlled current-sink. In order to achieve fast transient response using the low-cost digital signal controller (DSC) PWM peripherals, the interleaving PWM method is proposed to achieve active current ripple mitigation. To obtain the system open-loop gain for current-sink operation, an offline digital system identification method, followed by model reduction, is proposed by applying Pseudo-Random Binary Sequence (PRBS) excitation. Pole-zero cancelation method is used in the control system design and later implemented in a DSC. The prototype is built and tested, in which meaningful testing scenarios under constant current-sink mode, pulse current sink mode, and double line-frequency current mode are verified. The experimental results indicate that the proposed e-load can sink pre-programmed current profile with well-attenuated ripple for static and dynamic load testing, and is applicable to fully digitalized power testing equipment.