Electric ships have been developed in recent years to reduce greenhouse gas emissions. In this system, inverters are the key equipment for the permanent-magnet synchronous motor (PMSM) drive system. The cascaded insulated-gated bipolar transistor (IGBT)-based H-bridge inverter is one of the most attractive multilevel topologies for modern electric ship applications. Usually, the fault-tolerant control strategy is designed to keep the ship in operation for a certain period. However, the fault-tolerant control strategy with hardware redundancy is expensive and slow in response. In addition, after fault-tolerant control, the ship’s PMSM may experience shock and overheating, and IGBT life is reduced due to uneven switching frequency distribution. Therefore, a stratified reconfiguration carrier disposition Sinusoidal Pulse Width Modulation (SPWM) fault-tolerant control strategy is proposed. The proposed strategy can achieve fault tolerance without any extra hardware. A reconfiguration carrier is applied to improve the fundamental amplitude of inverter output voltage to maintain the operation of the ship’s PMSM. In addition, the available states of faulty H-bridge are fully used to contribute to the output. These can improve the life of IGBTs by reducing and balancing the power loss of each H-bridge. The principles of the proposed strategy are described in detail in this study. Taking a cascaded H-bridge seven-level inverter as an example, simulation and experimental results verify that the proposed strategy, in general, has a potential future application on electric ships.