Within the framework of supersymmetric quantum mechanics, we study the simplified version of potential algebra of shape invariance condition in k steps, where k is an arbitrary positive integer. The associated potential algebra is found to be equivalent to the generalized deformed oscillator algebra that has a built-in Z k -grading structure. The algebraic realization of shape invariance condition in k steps is therefore formulated by the method of Z k -graded deformed oscillator. Based on this formulation, we explicitly construct the general algebraic properties for shape invariant potentials in k steps, in which the parameters of partner potentials are related to each other by translation a 1 = a 0 + δ. The obtained results include the cyclic shape invariant potentials of period k as a special case. *