The operational principle and topology of multi-level current source converter as well as its main advantages are introduced. According to the characteristics of SVG (Static Var Generator), a model of multi-level current source SVG is built up and simulated with PSCAD/EMTDC. The influences of model parameters on the performance of SVG are discussed in the form of dynamic and steady waveforms of system voltage and current. Simulation results display the feasibility of proposed control strategy and the excellent performance of multi-level current source SVG.