This paper proposes a novel control strategy of SVC(Static var compensator) using cascade multilevel inverter. To control the reactive power instantaneously, the dq-dynamic system model is described and analyzed. A single pulse pattern based on the SHE(Selective Harmonic Elimination) technique is determined from the look-up table to reduce the line current harmonics and a rotating fundamental frequency switching scheme is applied to adjust the DC capacitor voltage at the scheme level. From the simulation, it is verified that this proposed control scheme make the dynamic control response of SVC fast, the current harmonics low, and the DC capacitor voltage balanced.