This paper investigates the performance of a Cascaded Multilevel inverter (MLI) controlled by Model Predictive Control (MPC). This inverter can be used for many applications such as for the induction motor drives or the grid connected systems. The cascaded MLI has 125 discrete space voltage vectors out of which many vectors are redundant. In order to reduce the complexity of calculations only 61 non-redundant vectors are used. The simulation is carried out in MATLAB/SIMULINK software and the results obtained are discussed. From the results, it can be verified that the MPC Controlled Cascaded MLI achieves a minimum current Total Harmonic Distortion (THD). Further, it also shows an excellent response when the load is dynamically changed.