A power conversion device comprising: - a 3-level power conversion circuit having a plurality of semiconductor switching elements (SU1-SU4, SV1-SV4, SW1-SW4) and a plurality of flyback diodes (DU1-DU4, DV1-DV4, DW1-DW4), configured to convert DC voltage to voltage having three potentials of positive voltage, negative voltage, and zero voltage; - a current detection section configured to detect a current value input to or output from a terminal having the three potentials of the 3-level power conversion circuit; - a voltage detection section configured to detect the DC voltage; and - a control section configured to perform ON/OFF control for the semiconductor switching elements (SU1-SU4, SV1-SV4, SW1-SW4) of the 3-level power conversion circuit based on a voltage command value, wherein, four semiconductor switching elements (SU1-SU4, SV1-SV4, SW1-SW4) per phase of the plurality of semiconductor switching elements are connected in series in the 3-level power conversion circuit, the 3-level power conversion circuit has a first diode (DU5, DV5, DW5) connected between a neutral point and a connecting point between two semiconductor switching elements (SU1, SU2, SV1, SV2, SW1, SW2) connected to a high potential side of the DC voltage and a second diode (DU6, DV6, DW6) connected between the neutral point and a connecting point between two semiconductor switching elements (SU3, SU4, SV3, SV4, SW3, SW4) connected to a low potential side of the DC voltage for each phase, characterized in that the control section is configured to calculate an ON voltage error caused due to an ON voltage drop including an ON voltage drop in the first diode (DU5, DV5, DW5) or the second diode (DU6, DV6, DW6) when current flows in the semiconductor switching elements (SU1-SU4, SV1-SV4, SW1-SW4) and the diodes (DU1-DU4, DV1-DV4, DW1-DW4), and configured to correct the voltage command value by a voltage correction amount for correcting the ON voltage error, and performs ON/OFF control for the semiconductor switching elements (SU1-SU4, SV1-SV4, SW1-SW4) of the 3-level power conversion circuit based on the corrected voltage command value; - wherein the control section comprises an ON voltage calculation circuit (93, 93a), wherein the ON voltage calculation circuit (93, 93a) is configured to calculate the ON voltage error based on either: a) time ratios of the three potentials in a predetermined certain period and the current value from the current detection section, or b) a ratio between the voltage command value and the DC voltage, and the current value from the current detection section. - a 3-level power conversion circuit having a plurality of semiconductor switching elements (SU1-SU4, SV1-SV4, SW1-SW4) and a plurality of flyback diodes (DU1-DU4, DV1-DV4, DW1-DW4), configured to convert DC voltage to voltage having three potentials of positive voltage, negative voltage, and zero voltage; - a current detection section configured to detect a current value input to or output from a terminal having the three potentials of the 3-level power conversion circuit; - a voltage detection section configured to detect the DC voltage; and - a control section configured to perform ON/OFF control for the semiconductor switching elements (SU1-SU4, SV1-SV4, SW1-SW4) of the 3-level power conversion circuit based on a voltage command value, wherein, four semiconductor switching elements (SU1-SU4, SV1-SV4, SW1-SW4) per phase of the plurality of semiconductor switching elements are connected in series in the 3-level power conversion circuit, the 3-level power conversion circuit has a first diode (DU5, DV5, DW5) connected between a neutral point and a connecting point between two semiconductor switching elements (SU1, SU2, SV1, SV2, SW1, SW2) connected to a high potential side of the DC voltage and a second diode (DU6, DV6, DW6) connected between the neutral point and a connecting point between two semiconductor switching elements (SU3, SU4, SV3, SV4, SW3, SW4) connected to a low potential side of the DC voltage for each phase, - wherein the control section comprises an ON voltage calculation circuit (93, 93a), a) time ratios of the three potentials in a predetermined certain period and the current value from the current detection section, or b) a ratio between the voltage command value and the DC voltage, and the current value from the current detection section.