This paper proposes a hybrid carrier based space vector modulation suitable for multiphase multilevel inverters. Multiphase multilevel inverters are controlled by this hybrid modulation to provide multiphase variable voltage and variable frequency supply. The proposed modulation inherits the features of fundamental frequency modulation and carrier based space vector modulation strategies. The main characteristics of this hybrid modulation are the reduction in power losses, and effectively improve harmonic performance. This algorithm can be applied to cascaded multilevel inverter topologies; it has low computational complexity and it is suitable for hardware implementations. Theoretical considerations are detailed using a five phase multilevel inverter. The performance of this hybrid modulation is analyzed based on power loss, weighted total harmonic distortion, the linearity and it is compared with standard modulation strategies. Simulation and experiment results confirm the good performance of the proposed modulation scheme.