We study an interesting property of shape invariant supersymmetric quantum mechanical systems. Particularly, we demonstrate that each shape invariant supersymmetric system can constitute a Z 3 -graded topological symmetric algebra. The latter is known to provide topological invariants which are generalizations of the Witten index. In addition, we relate the Z 3 -graded algebra to the generators of the SO(2, 1) Lie algebra underlying each shape invariant system. We generalize the results to the case of sequential shape invariant systems, in which case we find a sequence of Z 3 -graded algebras. Finally, we briefly discuss two systems that are related to shape invariance, but have different algebraic origin, namely supersymmetric systems with central charge equipped with an additional symmetry and Z 3 -graded algebraic systems. In view of the fact that the shape invariance condition is somewhat an additional algebraic condition, with no origin to some concrete algebraic structure, our results might be useful towards this line of research.