Three-level converters have drawn extensive attention due to their ability to deliver high-quality power. High semiconductor count is the main drawback of three-level converters. As a solution to this, a 10-switch converter is presented, that has advantages over both two- and three-level converters, simultaneously, plus it is applicable to a variety of power ranges. However, the switching pattern of 10-switch converter is not as simple as standard three-level converter due to lack of medium vectors. This paper presents a novel space vector modulation (SVM) for a 10-switch converter to reduce total harmonic distortion (THD) and common mode voltage (CMV) of this converter in comparison to prior carrier-based modulation methods. A simplified, low-cost modulation algorithm for the converter is proposed. The designed switching sequence has aimed at a low output THD and enhancement of DC bus voltage utilization. The performance of the proposed SVM is then compared to upgraded sinusoidal PWM. AC power quality and CMV of a 10-switch converter based on two modulation methods are investigated via simulation models. It was validated via simulation and experimental models that the proposed SVM utilized DC bus voltage more efficiently, generated remarkably less THD compared to other methods, and had a lower peak and rms CMV.