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This paper presents a predictive method of current control for grid connected three level neutral point clamped inverter in synchronous rotating frame. The predictive current controller calculates the inverter voltage required to force the load current to follow the reference. To validate the performance the computational time has been compared with DSP processor TMS320C240 and the maximum permissible sampling frequency is calculated. Transient performance of the controller is analyzed. The proposed controller also validates the neutral voltage balancing and reactive power control. Three phase balanced current injection to the grid with reactive power control has been attained. The decoupled control over active and reactive power has been achieved through the variation of synchronously rotating two axis currents.