With the rapid development of voltage source converter (VSC) based high voltage direct current (HVDC) transmission, it is an irresistible trend that HVDC grid will come into being. High-voltage and high-power DC/DC converters will serve as DC transformers in HVDC grid to interconnect DC lines with different voltage ratings. This paper proposes a monopolar symmetrical DC/DC converter which is composed of cascaded half-bridge sub-modules (SMs) and series-connected IGBTs. This hybrid topology features low capital costs, high efficiency, small footprint, and bidirectional power transfer capability. Operation principle, parameter design, and the control strategies of this topology are introduced. A 480MW, ±500kV/±160kV monopolar symmetrical DC/DC converter is simulated to verify its performance and evaluate the efficiency. In addition, a downscaled prototype rated at 2.4kW, ±300V/±100V has been built and tested. Experimental results further validate the effectiveness of the proposed DC/DC converter.