This paper proposes a hybrid control scheme for a newly devised hybrid multilevel inverter (HMLI) topology. The circuit configuration of HMLI is comprised of a cascaded converter module (CCM), connected in series with an H-bridge converter. Initially, a finite set model predictive control (FS-MPC) is adopted as a control scheme, and theoretical analysis is carried out in MATLAB/Simulink. Later, in the real-time implementation of the HMLI topology, a hybrid control scheme which is a variant of the FS-MPC method has been proposed. The proposed control method is computationally efficient and therefore has been employed to the HMLI topology to mitigate the high-frequency switching limitation of the conventional MPC. Moreover, a comparative analysis is carried to illustrate the advantages of the proposed work that includes low switching losses, higher efficiency, and improved total harmonic distortion (THD) in output current. The inverter topology and stability of the proposed control method have been validated through simulation results in MATLAB/Simulink environment. Experimental results via low-voltage laboratory prototype have been added and compared to realize the study in practice.