The invention provides a novel hybrid MMC topology with capabilities of direct current fault removing and partial automatic voltage sharing. In the power transmission and distribution technical field, each bridge arm of the novel MMC consists of two kinds of novel MMC sub modules, a bridge arm inductor and the like which are connected in series; the two kinds of the novel MMC sub module topologies comprise a Double Half-bridge Sub-module (D-HBSM) and a paralleled Full-bridge Sub-module (P-FBSM); the D-HBSM is obtained by turnover of the reverse serial-connection topology of two half-bridge sub modules, and has a partial automatic voltage sharing capability; and the P-FBSM is obtained by turnover of the full-bridge sub module, and has the global automatic voltage sharing capability. According to the two kinds of novel sub module topologies, the sub modules in the bridge arm have the partial or global automatic voltage sharing capability through topology reconstruction under the premise of not increasing the number of the power electronic devices and maintaining the direct current fault removing capability of the MMC system, so that the requirement on the capacitance value can be lowered under the same capacitor voltage ripple wave amplitude.