The invention discloses a control method for high-power reactive and harmonic dynamic hybrid compensation method. The hybrid compensation system comprises an SVG (static var generator), a TSF (thyristor switched filter) group and a controller, and the SVG and TSFs are parallelly connected to a grid. The three-phase current of the grid between the SVG and the TSFs is taken as a detection object, voltage and current values collected by sensors are processed through the controller, switching signals of the TSFs are acquired according to hybrid logic judgment, most of the reactive power of loads is compensated in a graded manner, and specific subharmonic is filtered out; control parameters of the SVG are acquired according to an instantaneous-power theory, and the surplus reactive power and harmonic of the loads are continuously compensated. A cost-effective scheme for rapid continuous compensation of the high-power reactive and harmonic is provided, impact of switching of passive equipment on the grid can be completely avoided, and harmonic current is avoided flowing to the grid, so that the control method is energy saving, emission reducing, green, environment friendly, good in social and economical effectiveness, wide in application range and especially applicable to the field of oil drilling.