A direct predictive control strategy is proposed for a three-phase four-level flying-capacitor (FC) inverter in this paper. The balancing of the FC voltages, a challenge in applications with small capacitors and low switching frequencies, is done without any modulation, simply using tables calculated offline. These allow the realization of fast-dynamics output currents with reduced dv/dt in the output voltages and reduced switching frequencies. Moreover, no interharmonics are created when operating at low switching frequencies and with reference currents containing multiple harmonic components, which is a key feature for active power filters. Simulations and experimental results are presented to demonstrate the excellent performance of the direct control strategy in comparison with a conventional pulsewidth-modulation control technique, mostly for operation at low switching frequencies.