A three-level rectifier includes at least one phase bridge arm that includes an upper-half and a lower-half bridge arm circuit modules. The upper-half bridge arm circuit module includes a first diode unit and a second diode unit that are in series connection, and a first power semiconductor switch unit. The lower-half bridge arm circuit module includes a third diode unit and a fourth diode unit that are in series connection, and a second power semiconductor switch unit. These first and second power semiconductor switch units are connected to the neutral point of the capacitor unit; the second diode unit and the third diode unit are connected to the alternating-current terminal; the first diode unit and the fourth diode unit are respectively connected to the positive terminal and negative terminal of the direct-current bus. The two circuit modules are disposed side by side and facing each other.