The paper offers the problem’s solution of the three-phase multilevel voltage source inverter (MLVSI) control with low dynamic losses in power semiconductor switches. The proposed technique is based on a single approach that operates with values of the integer and fractional parts of the relative values of the reference delta voltages, and it allows combining the use of the space-vector control, choosing the nearest vector (SVC), with the low-frequency space-vector pulse-width modulation with the quarter-wave symmetry of the output voltages (QWS-SVPWM). Depending on the impedance kind of a generalized load, the integrated voltage harmonics factor (weighted THD) of the appropriate order is being minimized by applying one of the two mentioned modulation methods (SVC or QWS-SVPWM) for a current range of voltage amplitude modulation index. Like its components, the combined algorithm is suitable for MLVSI of any circuit configuration and any number of equal output voltage levels.