Ensuring optimal extraction of power from photovoltaic (PV) systems under diverse climatic circumstances is a significant challenge, which requires an efficient Maximum Power Point (MPP) Tracking (MPPT) algorithm and an adequate conversion stage. Therefore, this paper proposes an advanced MPPT strategy implemented by a Three-Level Boost converter (TLB), which serves as the interface between the PV generator and the DC load, offering advantages such as reduced output voltage distortion, minimized inductor current ripple, and decreased switching losses. To achieve more accurate tracking, a robust voltage balance control across the TLB converter capacitors is also suggested. The proposed system is meticulously implemented and evaluated using MATLAB/Simulink, demonstrating its robust control capabilities in MPP tracking and voltage balancing across the TLB converter capacitors under diverse climatic scenarios. Furthermore, comparative analysis under various test circumstances including static and dynamic insolation conditions and sudden load variations, shows that the suggested MPPT algorithm offers noteworthy improvements over the InC algorithm. Additionally, a thorough comparison with existing research methods proves its effectiveness over these methods. The advanced MPPT strategy achieves a steady-state error of 0 W, an average tracking efficiency between 99.13 % and 99.44%, and fast-tracking velocity. Further, a comprehensive real-time evaluation using the cutting-edge RT-LAB platform confirms the consistency of the results with the simulation outputs, emphasizing the robustness and low implementation complexity of the overall proposed control strategy.