This paper proposes an adaptive carrier-based pulse width modulation (PWM) method for a four-switch three-phase (4S3P) inverter under dc-link voltage ripple conditions. The proposed method guarantees balanced output currents despite of the existence of the voltage oscillations across two dc-link capacitors. And also, this new approach achieves a linear over-modulation with calculation time reduction. Simulation and experimental results are given to validate the feasibility of the proposed method.