Cascaded H-bridge inverters, which belong to strongly nonlinear time-varying system with complex dynamics, have been widely used in high-voltage and high-power engineering fields. In this paper, a carrier phase-shifted sinusoidal pulse-width modulation cascaded H-bridge inverter is taken as an example with piecewise analysis to establish the discrete iterative mathematical model. Furthermore, the nonlinear dynamic behavior of this inverter system is investigated using folding diagrams, spectrum diagrams, bifurcation diagrams, Lyapunov exponents, etc. We find that this inverter can exhibit multiperiod bifurcation, tangential bifurcation and paroxysmal chaos within certain ranges of control coefficients and other circuit parameters, which will influence the system’s stability seriously. On the basis of this discovery, the sinusoidal time-delay feedback control method is proposed. The difference between the load current of the controlled object and its own delay is used to form a feedback term, which is then fed into the sine function and proportional link to obtain the control term. Moreover, the Jacobian matrix of this feedback inverter system is derived, and the constraints on the feedback control coefficient are obtained based on the Jury criterion. Simulation results have verified the effectiveness of such a sinusoidal time-delay feedback control method, which can improve the stability and anti-interference of the system. The research can be used to provide some reference and guidance for the circuit design, debugging and control of cascaded H-bridge inverters.