In this paper, a novel Cascaded H-Bridge (CHB)-based multilevel inverter for symmetric/asymmetric configurations is presented. The proposed MLI can be utilized in medium-voltage applications such as electrical machine drives as well as grid connection of renewable energy resources. The proposed structure uses fewer count of semiconductor devices at the same voltage level in comparison with classic and advanced structures. Cascaded connection of the proposed basic cells leads to reduce complexity and increase efficiency of the proposed structure. In order to investigate the capability and superiority of the proposed structure, a comprehensive comparison is conducted between this structure and the advanced ones in terms of efficiency, switch and gate driver count, and total blocking voltage (TBV). The fundamental frequency switching method is employed to generate proper switching pulses. The performance of the proposed multilevel inverter is investigated by simulating in MATLAB/Simulink environment. The experimental implementation for proposed 15-level symmetric and 33-level asymmetric structures validates the correctness of simulation results.