-In this paper, carrier-based pulse width modulation (CBPWM), space vector PWM (SVPWM) and reduced switching losses PWM (RSLPWM) for the three-level neutral point clamped (NPC) inverter are introduced. In the case of the neutral point (NP) potential (NPP) offset, an asymmetric disposition PWM (ASPDPWM) strategy is proposed, which can output PWM sequences correctly and suppress the lower order harmonics of the inverter effectively. An NPP balance strategy based on carrier based PWM (CBPWM) is analyzed. A hybrid modulation strategy combining RSLPWM and the NPP balance based on CBPWM is proposed, and hysteresis control is adopted to switch between the two modulation strategies. An experimental prototype of the three-level NPC inverter is built. The effectiveness of the hybrid modulation is verified with a resistance-inductance load and a permanent magnetic synchronous motor (PMSM) load, respectively. The experimental results show that reduced switching losses and an acceptable NPP can be effectively achieved in the hybrid modulation strategy.