In this paper, a new carrier-based pulse width modulation (PWM) strategy providing common-mode voltage (CMV) elimination and reduced current ripple in a three-level neutral-point-clamped inverter is introduced. The employed switching sequences are made up of the three zero CMV (ZCMV) vectors, and one among the three vec-tors is applied at two ends of a half-carrier cycle. The output current ripple characteristics pertaining to those switching sequences are investigated. In a carrier cycle, the root-mean-square current ripple minimization is analyzed and an optimal sequence is derived accordingly. The presented PWM scheme results in a considerably reduced current harmonic distortion in a wide modulation region as compared to the two existing ZCMV schemes on the same average switching frequency. Also, an implementation of sawtooth-carrier-based PWM patterns is proposed for further improvement of the harmonic performance. The algorithm requires small computational burden and is straightforward for an online implementation. Simulation and experimental results are both provided to validate the good performance of the proposed PWM method.