Improving voltage stability, reducing real power loss (PL) and voltage deviation (VD) are the most important tasks in the operation of electrical power systems. Voltage instability and voltage collapse are the severe problems which may take place because of deficit reactive power at load buses due to increased loading or contingencies. In this paper, the problem of obtaining optimal location and size of SVC is formulated as true multi-objective optimization problem for simultaneous minimization of the two objectives namely real power losses and load bus voltage deviation. The two algorithms real coded genetic algorithm (RCGA) and non-dominated sorting genetic algorithm-II (NSGA-II) with a feature of adoptive crowding distance have been used for solving nonlinear constrained multi-objective optimization problem. Both the algorithms have been used for obtaining optimal location and sizing of SVC. Voltage security of the power system has also been analyzed separately for all placement of SVC to ensure secure operation of the system. The proposed approaches have been implemented on IEEE 30-bus test system. The simulation results of the two algorithms have been compared for solution quality, computational complexity and computational time. It has been found that NSGA-II presents better performance in solving multi-objective optimization problem and also in obtaining a diverse set of solutions which converge near the true Pareto-optimal front. The simulation results of NSGA-II have also been presented to exhibit the capabilities of the algorithm to generate well-distributed Pareto-optimal front.