A power conversion method comprising detecting a three-phase source voltage of the three-phase AC power supply every control sampling cycle. The three-phase source voltage is allocated to a maximum voltage, an intermediate voltage and a minimum voltage as seen from a virtual neutral point voltage. A one-phase fixing switching mode is detected for fixing one of output phases into a predetermined state without switching and switching the other phases during a PWM cycle or a full phase switching mode for switching all of the phases during the PWM cycle based on an output voltage command and the three-phase source voltage. ON/OFF pattern of a bidirectional switch is determined from the switching mode thus selected, the output voltage command and the three-phase source voltage. The bidirectional switch is turned ON/OFF based on the ON/OFF pattern.