A novel type of three level bidirectional DC-DC converter is proposed based on the advantages of three level circuit structure, omitting a pair of flying capacitors in traditional three level bidirectional DC-DC converters. Electrical stress of switch and harmonic component are reduced in the novel three level bidirectional DC-DC converter. By using the control strategy of interleaving phase shifting, zero voltage switching (ZVS) is realized for all switches in the novel converter. The performance of the novel three level bidirectional DC-DC converter is excellent through the 2.4 kW prototype experiment. Compared with traditional bidirectional DC-DC converter, the efficiency is significantly improved in the novel converter.