The invention relates to a traction converter and control, fault processing and carrier phase shifting methods thereof. The traction converter comprises a first pre-charging loop and a second pre-charging loop that are connected with a secondary-side winding of the traction transformer respectively, a first four-quadrant rectifier module connected in series with the first pre-charging loop, a second four-quadrant rectifier module connected in series with the second pre-charging loop, an intermediate direct-current voltage loop with the input terminal connected with the output terminal of the first four-quadrant rectifier module and the output terminal of the second four-quadrant rectifier module, a first traction inverter module with the input terminal connected with the output terminal ofthe intermediate direct-current voltage loop, a second traction inverter module with the input terminal connected with the output terminal of the intermediate direct-current voltage loop, and an auxiliary inversion system with the input terminal connected with the output terminal of the intermediate direct-current voltage loop. According to the traction converter, the single four-quadrant rectifier module can work and the single traction inverter module can work; and the robustness is high, the fault rate is low, the size is reduced, and the cost is lowered.