This paper proposes a novel DC power electronic transformer (DCPET) topology for locomotive, AC/DC hybrid grid, DC distribution grid and other isolated medium-voltage and high-power applications. Compared with conventional PET topology, the proposed DCPET has fewer power semiconductor devices and high-frequency isolation transformers, which can improve the power density and reliability. Fault handling or redundancy design can be achieved to further improve the reliability when some DC-DC modules break down. Also, input voltage sharing (IVS) control can be omitted to simplify the control system and improve the stability. Meanwhile, soft switching is guaranteed for all the switches, which is beneficial to increase switching frequency and improve power density. In this paper, the principle, evolution, and control of the proposed DCPET are respectively presented and studied in detail. Finally, a prototype of the proposed DCPET is built and the experimental results verify the validity and superiority of the proposed topology. A Modified DC Power Electronic Transformer Based on Series Connection of Full-Bridge Converters