Nowadays, for the maximum utilization of the power available, power systems are operated at their maximum stability limit due to the scarcity of natural resources. In this situation, quick monitoring and control of the power systems are very necessary for the electrical operators. This paper presents a novel line voltage stability index based on V-Q sensitivity. The index is created utilizing the network’s ABCD parameters and is based on an exact transmission system model. The new index is evaluated in terms of ABCD parameters from the reactive power equation of the power system. The proposed line index can predict the voltage collapse under heavy MVA loading, heavy reactive loading, randomly chosen heavy reactive loading, and different N-1 contingencies conditions. This has also the capability to predict voltage stability under different contingencies. The proposed method is compared with four existing methods named line stability index (Lmn), fast voltage stability index (FVSI), line stability factor (Lqp), and line voltage stability index (LVSI). Results show that the critical situation of the power system that has been investigated by the proposed approach is more accurate than these four existing methods under different operating scenarios. The accuracy and applicability of the proposed method are investigated on IEEE 14-bus and IEEE 118-bus systems.