A study on the capacity increase of a power converter according to the increase in the single capacity of wave energy converters and four-leg topology that can supply stable power even under unbalanced load conditions during independent operation is required. Therefore, in this paper, the performances of various four-leg inverters, from two-level inverters to three-level inverters, which are used as power converters for wave energy converters, are compared respectively. Since the four-leg converter has an unusual structure, the performance of each four-leg inverter was analyzed by applying the model predictive control that can easily and simply configure the controller. To verify the performance of each four-leg inverter, a comparison was performed under balanced load and unbalanced load conditions. Based on this, a suitable four-leg topology of the power converter for wave energy converters was confirmed.