Switched-mode operation allows the miniaturization of excitation circuitry but suffers from high harmonic distortion. This paper presents a method of phase-inversion-based selective harmonic elimination (PI-SHE) and the use of multiple switching levels. PI-SHE is shown to enable multiples of any selected harmonic to be eliminated through controlled timing of the transition between different excitation voltage levels. Multiples of the third harmonic are shown to be eliminated in three-level tone waveforms. In addition, multiples of the fifth harmonic are shown to be eliminated using five-level tone waveforms. A method of calculating the expected amplitude of each harmonic is presented. The application of PI-SHE in linear frequency-modulated (LFM) excitation is proposed. A heuristic derivation of the spectral properties of multilevel switched LFM waveforms is presented. The performance of the proposed PI-SHE method is confirmed through experimental measurement of the harmonics present in an ultrasound wave using two, three, and five levels for both tone and LFM excitation. The proposed method of controlling harmonics through the use of multilevel switched excitation is especially suitable for applications in which portability, high channel counts, and precise harmonic control are required.