Elevator comprising a manual active dynamic braking function, which elevator comprises - an elevator control for operating at least one elevator car in at least one elevator driveway between landing floors in response to elevator calls, - an AC elevator motor, which is able to generate power in a generator mode, - a motor drive connected to the elevator control for the regulation of the speed of the elevator motor, the motor drive comprising a frequency converter including a rectifier bridge and an inverter bridge which are connected via a DC link, the inverter bridge including semiconductor switch circuits (70a - 70f), the motor drive further comprising a drive controller for controlling the semiconductor switch circuits (70a - 70f) to regulate the elevator motor to a reference speed, whereby - the semiconductor switch circuits (70a - 70f) of the inverter bridge each comprise a diode connected anti-parallel to a semiconductor switch, - the motor drive comprises a safety logic for cutting off control pulses to the semiconductor switches, at least during power outage, - at least one elevator brake (20a, 20b) is located in connection with the elevator motor and/or with a traction sheave of the elevator motor, - a manual brake release lever is functionally linked to the elevator brake (20a, 20b), movable between a rest position and at least one operating position to release the elevator brake (20a, 20b) manually, characterized in that - the motor drive comprises a manual bypass switch for operating the safety logic as to enable dynamical braking of the elevator motor by connecting the semiconductors with the drive controller, - the motor drive comprises a DC supply circuit connected with the DC link, - the DC supply circuit is arranged to supply power at least to the drive controller and to the bypass switch to enable dynamic braking control of the semiconductor switches, and that the manual brake release lever is functionally connected with the bypass switch and is arranged to operate the bypass switch, when it is moved from its rest position or that the elevator comprises a manual actuator, such as a key switch, disposed in the same location with the manual brake release lever, which manual actuator is arranged to operate the bypass switch. - an elevator control for operating at least one elevator car in at least one elevator driveway between landing floors in response to elevator calls, - an AC elevator motor, which is able to generate power in a generator mode, - a motor drive connected to the elevator control for the regulation of the speed of the elevator motor, the motor drive comprising a frequency converter including a rectifier bridge and an inverter bridge which are connected via a DC link, the inverter bridge including semiconductor switch circuits (70a - 70f), the motor drive further comprising a drive controller for controlling the semiconductor switch circuits (70a - 70f) to regulate the elevator motor to a reference speed, - the semiconductor switch circuits (70a - 70f) of the inverter bridge each comprise a diode connected anti-parallel to a semiconductor switch, - the motor drive comprises a safety logic for cutting off control pulses to the semiconductor switches, at least during power outage, - at least one elevator brake (20a, 20b) is located in connection with the elevator motor and/or with a traction sheave of the elevator motor, - a manual brake release lever is functionally linked to the elevator brake (20a, 20b), movable between a rest position and at least one operating position to release the elevator brake (20a, 20b) manually, - the motor drive comprises a manual bypass switch for operating the safety logic as to enable dynamical braking of the elevator motor by connecting the semiconductors with the drive controller, - the motor drive comprises a DC supply circuit connected with the DC link, - the DC supply circuit is arranged to supply power at least to the drive controller and to the bypass switch to enable dynamic braking control of the semiconductor switches, and that the manual brake release lever is functionally connected with the bypass switch and is arranged to operate the bypass switch, when it is moved from its rest position or that the elevator comprises a manual actuator, such as a key switch, disposed in the same location with the manual brake release lever, which manual actuator is arranged to operate the bypass switch.