A half-cycle-waveform inversion based three reference modulations seven-level SPWM (TRM-SPWM) scheme with one carrier is proposed in this paper. To keep the same comparison logics for the modulations and carrier during the negative half cycle and the positive one for the modulations, in the negative half cycle of the modulations, the DC offsets related to the amplitude of the carrier are set on the three modulations, respectively. The seven-level SPWM waveform with dead time thereby is implemented with only one Digital Signal Processor (DSP) without any other attached logic circuit. The basis principle of the proposed TRM-SPWM is analyzed in detail, and the frequency spectrums of the conventional and the proposed schemes are derived and compared with each other through simulation. The DSP based implementation is presented and detailed experimental waveforms verify the accuracy and feasibility of the proposed TRM-SPWM scheme.