A new configuration for a diode-clamped multi-level inverter based on a multi-winding transformer was proposed and simulated. The most important difference between this proposed DC-AC-AC structure, and the basic structure is that; in the proposed structure, the back-to-back connected outputs of a multi-winding transformer supersede the capacitors in the basic structure. The proposed structure provides the equilibrium in the total time of drawing power between the voltage source steps, as a result, decreasing the unbalancing effect. Isolation and capability to produce more output steps are other advantages of the proposed schematic compared with the conventional capacitor based diode-clamped structure. The simulation result shows the ability of this inverter to feed inductive loads.