A multi-level power converter is disclosed. The converter includes a DC power source having N (N is an Integer more than two)-level voltage potentials, and a plurality of switching legs connected in parallel to the DC power source. The switching leg has switching elements in series connection, and clamp diodes connected between intermediate DC potential terminals to middle points of the switching legs. The converter is provided with a control means for supplying gate pulses to the switching elements, and a supervising means for supervising every switching element to output a failure signal. The converter further includes a logic operating means for detecting an over-current failure of main circuit elements to output a device fault signal using the failure signals An operation of the logic operating means at least includes AND condition of at least two failure signals to output the device fault signal.