Multilevel inverters are a new generation of DC–AC converters at medium and high voltage and power levels. In this paper, a new single-phase cascaded multilevel inverter is presented. For this purpose, a new basic cell is presented at first. Then, the new multilevel inverter structure is yielded by series connection of these cells. The proposed new cell is only capable of generating positive voltage levels, and therefore, to produce zero and negative voltage levels, the proposed structure is constructed based on H-bridge module. In order to reduce the maximum blocking voltage especially on H-bridge switches, the cascaded connection of the proposed converter is investigated. A comprehensive comparison is carried out between the proposed multilevel inverter with the classical and recently introduced structures in terms of the number of switching devices, the number of drivers, the total blocking voltage of the switches as well as the loss and efficiency. The accuracy of the proposed inverter’s performance is simulated in MATLAB/Simulink in symmetric and asymmetric topologies for a 17-level and 23-level output voltage respectively, and then evaluated by the laboratory prototype.