This paper studies the effect of common-mode voltage elimination (CMVE) on the iron loss of electrical machine core laminations under multilevel converter supply. Three identical magnetic ring cores are excited by either a three-level converter or a five-level voltage source converter to study the behavior of CMVE on a three-phase system. Both multilevel converters are controlled by using a space vector pulse width modulation as it is one of the most often used techniques for CMVE. These experimental results are confirmed numerically with a dynamic iron loss model. In addition, the effect of CMVE, at different switching frequencies, on the core loss of a synchronous machine is numerically studied. The results presented in this paper show that the core loss is considerably increased when the CMVE is implemented. However this iron loss increase in five-level drive systems is lower compared to the three-level ones. Therefore, it is important that the designers of drive systems take such effects into consideration.Index Terms-Common-mode voltage elimination, iron loss, magnetic material, multilevel converters, pulse width modulation.