Multilevel power converters have been used in SRM drives to improve high speed operating characteristics and reduce switching frequency. Several topologies have been proposed to these drives but it requires an increased number of switches. In this paper it is presented a new multilevel topology for the SRM drives. This topology is based on the T-type structure and characterized by a reduced number of power semiconductors resulting in a low cost, size and weight system. With this topology it is possible to accelerate the magnetization and demagnetization process as well as the efficiency of the system through the reduction of the switching frequency at low speed operation. The characteristics and performance of the proposed topology will be verified through several numerical tests.