Monocular deprivation (MD) during the critical period (CP) shifts ocular dominance (OD) of cortical responsiveness toward the nondeprived eye. The synaptic mechanisms underlying MD-induced OD plasticity, in particular the contribution of cortical inhibition to the plasticity, have remained unsolved. In this study, using in vivo whole-cell voltage-clamp recordings, we revealed eye-specific excitatory and inhibitory synaptic inputs to layer 4 excitatory neurons in mouse primary visual cortex (V1) at a developmental stage close to the end of CP. We found in normally reared mice that ocular preference is primarily determined by the contralateral bias of excitatory input and that inhibition does not play an active role in shaping OD. MD results in a parallel reduction of excitation and inhibition driven by the deprived eye, while reducing the inhibition but preserving the excitation driven by the nondeprived eye. MD of longer periods causes larger changes in synaptic amplitude than MD of shorter periods. Furthermore, MD resulted in a shortening of onset latencies of synaptic inputs activated by both contralateral and ipsilateral eye stimulation, while the relative temporal relationship between excitation and inhibition driven by the same eye was not significantly affected. Our results suggest that OD plasticity is largely attributed to a reduction of feedforward input representing the deprived eye, and that an unexpected weakening of cortical inhibitory connections accounts for the increased responsiveness to the nondeprived eye.