The Multi-Level Inverters (MLI) are most predominantly used in industrial applications as they reduce dv/dt ratio, switching stress of the power semiconductor switches, etc. The industries are slowly shifting from three phase inverters to five phase inverters as they produce lower current per phase, less switching losses, low Common Mode Voltage (CMV), etc. The Space Vector Modulation (SVM) is one of the controlling techniques for driving the inverters which reduces the Total Harmonic Distortion (THD) and improves the dc link balancing. The switching vectors available for five phase Three Level (3L) Neutral Point Clamped (NPC) Inverter is 243 vectors, out of which 51 vectors are selected that produce zero CMV. The controlling of the inverter is done by Model Predictive Control (MPC) Technique in which the error is reduced. The performance of the inverter is evaluated through MATLAB Simulink.