An optimized space vector pulse width modulation (SVPWM) method with common mode voltage elimination and neutral point potential balancing is proposed for an open-end winding induction motor. The motor is fed from both of the ends with two neutral point clamped (NPC) three-level inverters. In order to eliminate the common mode voltage of the motor ends and balance the neutral point potential of the DC link, only zero common mode voltage vectors are used and a balancing control factor is gained from calculation in the strategy. In order to improve the harmonic characteristics of the output voltages and currents, the balancing control factor is regulated properly and the theoretical analysis is provided. Simulation and experimental results show that by adopting the proposed method, the common mode voltage can be completely eliminated, the neutral point potential can be accurately balanced and the harmonic performance for the output voltages and currents can be effectively improved.