Reactive power compensation is one of the effective means to improve the quality of voltage, reduce loss and save energy. How to make full use of the inductance converter and capacitance banks and to make them cooperative run, is the key of industrialization for the dynamic reactive power compensator for the composite power load. Therefore, a novel parameter optimization platform of the dynamic reactive power compensator for the composite power load is designed in this paper. The following works have been done in the study: reactive power variation characteristic of the composite power load and power factor requirements, capacity calculation and parameter adjusting method of the dynamic reactive power compensator, and a novel parameter optimization platform of the dynamic reactive power compensator for the composite power load. The research has laid a theoretical foundation for this dynamic reactive power compensator in industrial applications.