Multi-phase-shift control of a power converter is provided. The power converter includes a dual-active-bridge (DAB) converter having a transformer, a first H-bridge coupled to the primary winding of the transformer, and a second H-bridge coupled to the secondary winding of the transformer. The DAB converter is operable to generate two-level and three-level voltage waveforms on the primary winding and on the secondary winding to yield a system which ensures zero-voltage switching and unity power factor over a wide range of input and output voltage levels and power throughputs. In a multi-phase shift (MPS) mode of operation, the DAB converter changes from a two-level voltage in at least one of the windings to a three-level voltage in both windings in response to the instantaneous load being below a predetermined level, resulting in more performance of the DAB converter in light load conditions.