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Objective: Modeling of processes in a multifunctional static converter. Methods: Methods for calcu- lating electrical circuits and simulation in the MATLAB software using the Simulink library package are applied. Results: The circuit solutions have been chosen and the development of control algorithms for a multifunctional static power converter for a hybrid transport power system has been carried out. A multi-convector hybrid circuit with two power storage units was chosen for the analysis of the work. Practical importance: The developed model makes it possible to assess the rational power management functions of a hybrid transport power system for various operating modes, confirming the expediency of configuration and choice of circuit solutions when creating a converter for a hybrid transport power plant.