This paper proposes an analytical formulation-based minimization of DC link current ripples for interleaved parallel inverter systems. Parallel inverter systems find applications in multiple fields. The interleaved superposition of the DC link currents in these systems can potentially be adjusted to mitigate the overall harmonics consequently reducing the DC link capacitor size. To this end, a widely used approach in the literature is the Fourier analysis based on interleaving focusing on dominant harmonic mitigation. However, it leaves room for a generic analytical mechanism to provide time shifts leading to an optimal reduction in DC-link ripples. The goal of this work is to target this optimal reduction by utilizing an analytical mechanism. The paper presents an alternate way of DC-link formulation in terms of the piece-wise sinusoids of inverter output currents for space vector modulation-based systems. The formulation is then used to numerically optimize the interleaved shifts for minimum ripples. Moreover, in addition to the traditional concept of fixed time interleaving, a contemporary concept of sequence-based interleaving is utilized, which is anticipated to have more flexibility in the implementation and additional switching synchronism with PWM rectifiers for back–back converters. Therefore, the sequence interleaving has also been utilized in conjunction with the proposed ripple reduction methodology. Further, an underexplored area of using the combined impact of sequence and time interleaving has also been applied in this work. These interleaving methods are shown to provide significantly improved DC-link ripple mitigation, as compared to existing methods, using numerical assessment followed by simulations and experimental evaluation.