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This paper focuses on the problems of a large number of components and complex structure for traditional five-level inverters. In order to solve the problem, a novel single-supply four-switch five-level inverter topology is proposed. Based on the H4 two-level full bridge inverter, one coupling inductor and two diodes are added to constitute the proposed topology. By means of the LPS-PWM modulation strategy with frequency doubling ability, one pair of complementary power switches operate at power frequency, and the other pair of high-frequency switches operate at the half of the output sine wave modulation frequency, which effectively reduces the switching loss and electromagnetic interference resulting from high switching frequency. In addition, three kinds of extended circuits of four-switch five-levels are proposed. A comprehensive comparison against the state-of-the-art topologies in terms of the required number of components is performed to attest the outperforming merits of the proposed topology. Finally, various experimental results are presented to validate the feasibility and operability of the proposed topology.