The values for the average and rms currents in a three-level PWM inverter are required in order to select the various components such as power semiconductor devices, capacitors and reactors of inverter circuit. And those are very useful for the designing of the heat sink. In this paper, therefore, the simple current equations are proposed for a three-level PWM inverter. Analysis of inverter current waveforms indicate that the average and rms inverter currents are dependent on the load power factor and PWM modulation index (Ma). Error analysis and experiment results verify the effectiveness of the proposed current equations. (author). refs., figs., tabs.