Having a reduced number of switches and isolated DC sources yet generating a higher number of voltage levels has been always the challenge when selecting the appropriate Multilevel Inverter (MLI) topology. Nowadays, Single-DC-Source Multilevel Inverter (SDCS-MLI) topologies are being considered as more suitable for many power system applications such as Renewable Energy (RE) conversion systems and electrified transportations compared to the Multiple-DC-Source MLIs (MDCS-MLIs). Moreover, increasing the power rating and minimizing the switching frequency while maintaining reasonable power quality using a SDCS-MLI is an important requirement and a persistent challenge for the industry. Thus, this paper presents a general review on the available SDCS-MLI topologies and future trends. Existing solutions are discussed and analyzed based on their topologies, number of output voltage levels, number of active/passive components, advantages/limitations, maturity, and industrial applications. Furthermore, recommendations for future research and development are suggested in this paper.