A neutral-point voltage balance control method and system for a three-level converter in a full power factor range. The method includes: using a large, medium, and zero vector modulation method to synthesize a reference voltage vector, and duty cycles of a large vector, a medium vector, and a zero vector; obtaining a voltage difference between two dc-link capacitors of signal acquisition, and the voltage difference as a neutral-point potential of the three-level converter; according to a value relationship between the neutral-point potential of the three-level converter and a specified threshold, selecting a small vector and calculating a duty cycle of the small vector; and updating a duty cycle of each basic vector, and obtaining a switching sequence for controlling a power switch of a three-phase bridge arm. An amplitude of a common-mode voltage of an NPC three-level converter is equal to one sixth of a dc-link voltage.