The present invention relates to a multi-level inverter topology based on magnetic field coupling. The multi-level inverter topology is characterized in that through the control algorithm of a controller, two inverter units are adjusted to output phases and amplitudes of fundamental and harmonic waves, the vector synthesis is carried out through a magnetic coupling element to generate voltage with one more levels of a direct output level and double equivalent high-frequency component frequencies on the output loads of the two inverter units. The multi-level inverter topology comprises a controller, a frequency conversion unit, an inverter unit, a magnetic coupling element and an output terminal. The inverter unit can be two level inverters and also can be multiple level inverters. The inverter unit is powered by multiple groups of independent DC power supplies and also can be powered by a single DC power supply.