Switched Reluctance Motor(SRM) has become popular for industrial application, particularly for low medium drives due to the advantages of SRM over the other ac motors: SRM can be manufactured with low cost because it has a simple structure. But, asymmetric bridge converter that generally is used for driving requires two discrete switching devices and freewheeling diodes per phase, and cause the SRM drives to be complicated and to increase the cost of overall system. Therefore, this paper suggests a new type of 4-switch converter for SRM. 4-switch converter topology is studied to provide a possibility for the realization of low cost 3-phase SRM drive system. For effective utilization of the developed system, a new current control algorithm is designed and implemented to produce the desired dynamic performance. With the developed power conversion circuit and control scheme, it is expected that the proposed system can be widely used in commercial applications with reduced system cost.