This paper proposes a new algorithm for a space-vector pulse width modulation (SVPWM) with a hybrid switching sequence (SS) designed to control a three-level (3L) neutral point clamped (NPC) voltage source inverter (VSI). Based on the advantages of five-stage and seven-stage SS, we designed a hybrid SS to improve four key parameters in the system: inverter output current quality, neutral point (NP) and common-mode (CM) voltage levels, and switching losses of power switches. The proposed algorithm flexibly regulates meeting the four criteria depending on the system operating conditions by changing the regulation coefficient. The paper obtained an approximate dependence to determine the optimal regulation coefficient for any values of the inverter modulation coefficient when operating jointly with an active-inductive load. The effectiveness of the proposed algorithm is confirmed by computer simulation in the MatLab+Simulink environment, as well as the results of experimental studies. The paper presents the experimental dependences of static state spaces, including the distortion coefficient of higher current harmonics at the inverter output, the maximum error of the NP voltage, the number of switching pairs of power switches, and the pulse duty factor of CM voltage, depending on the inverter modulation coefficient and the regulation coefficient of the hybrid SS. The results showed that in the algorithm for a SVPWM with a hybrid SS, the number of switchings of power switches is reduced by an average of 13.5 % while maintaining the NP voltage balance and the quality of the curve at the inverter output at an acceptable level, close to a seven-stage SS (the deviations do not exceed 0.5 % and 0.2 %, respectively). The average CM voltage coefficient decreased by no more than 4.5 %. The indicators improve the energy saving, the weight-size parameters, and the operational reliability of the 3L NPC VSI. The application area of the algorithm is much wider and includes the control of power switches of active front ends, grid converters for electricity storage systems, active power filters, and power conditioners. DOI: https://doi.org/10.52783/pst.237