This paper presents a fast synergetic control scheme for chaotic oscillation in a three-bus power system model. First, the coupling dynamic model of a controlled power system with the current source converter-based STATCOM device and energy storage device is established. Then, the input-output linearization process for the controlled power system is derived step by step, the control problem for the complex nonlinear power system model is completely transformed into the control of linear systems, and a fast synergetic control scheme is proposed for these linear systems. Since the designed control inputs contain complex system functions which are very difficult to obtain and reduce the engineering practicability of the designed controllers, the assumption that system functions are bounded is introduced into the controller design process, and the controllers are redesigned. The remarkable advantages of the proposed control method are that it improves the rapidity of traditional synergetic control and avoids complex system functions in control inputs. Finally, the effectiveness and the superiority of the control scheme are verified by simulation results.