This paper presents a novel hybrid carrier based space vector modulation for cascaded multilevel inverters. The proposed technique inherits the properties of carrier based space vector modulation and the fundamental frequency modulation strategy. The main characteristic of this modulation are the reduction of power loss, and improved harmonic performance. The carrier based space vector modulation algorithm is implemented with a TMS320F2407 digital signal processor. A Xilinx Complex Programmable Logic Device is used to develop the hybrid PWM control algorithm and it is integrated with a digital signal processor for hybrid carrier based space vector PWM generation. The inverter offers less weighted total harmonic distortion and it operates with equal electrostatic and electromagnetic stress among the power devices. The feasibility of the proposed technique is verified by spectral analysis, simulation, and experimental results.