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To accomplish a higher departure density and velocity, the traction supply is required to generate higher power, higher power factor, and better stability with higher power conservation ratio, which makes a novel traction system with PWM rectifier the research focus in such area. Analysis of the differences between our novel supply system and a conventional one consisting of uncontrolled diode rectifiers is presented in this paper. Oriented to a traction system with the DC voltage of 1500V,the characteristics of such novel supply system based on three-level PWM rectifier is studied. What's more, in this paper are introduced thoroughly the topology and control strategy for single three-level module in the system, as well as the control strategy for paralleled connection of such modules, all subjected to simulations and experiments.