A power semiconductor module includes semiconductor elements of a first system constituting each of arms in a circuit of the first system, semiconductor elements of a second system constituting each of arms in a circuit of the second system, a plurality of DC electrode conductors including a common DC electrode conductor joined to the semiconductor elements of the first and second systems, and a plurality of AC electrode conductors joined to the respective semiconductor elements of the first and second systems. Each of the semiconductor elements of the first and second systems is interposed between the DC electrode conductor and AC electrode conductor.