A 3-level power converter is provided, which is reduced in size of the converter, reduced in floating inductance of each of wirings interconnecting between respective elements, and easily attached with a snubber circuit. The 3-level power converter performs on/off control of first to fourth switching elements 1 to 4 so as to output a 3-level voltage from an AC output terminal AC, wherein the power converter has a first module 11 including the first and fourth switching elements 1 and 4 as a configuration unit, a second module 12 including the second and third switching elements 2 and 3 as a configuration unit, a third module 14 including a first coupling diode 5 as a configuration unit, and a fourth module 13 including a second coupling diode as a configuration unit, and the second module 11, the fourth module 14, the third module 13, and the first module 11 are sequentially arranged in a line from a position near the AC output terminal AC.