Abstract: The paper introduced structure characteristics of HVDC-Light system, built model of HVDC-Light system based on power system simulation software DIgSILENT/PowerFactory, analyzed steady state mathematical model of voltage source converter based on synchronous d-q rotating coordinate system and control strategy of DC voltage, active power and reactive power, and simulated dynamic performance under condition of change of the DC voltage, active power and reactive power. The simulation results show that the system has good ability of dynamic response and robustness, can steady work between two power grids, and independently control reactive power to compensate static reactive power.