A power conversion device that performs power conversion between a DC circuit and an AC circuit includes a power conversion circuit including a plurality of sub-modules, a failure detection device that detects an internal failure of the power conversion circuit, and a control device that generates an operation command controlling operation of each of the plurality of sub-modules. The control device acquires a voltage value of a capacitor included in each sub-module, calculates a deviation between a variance value indicating a variation in the voltage value of the capacitor included in the sub-module in a reference period and a reference variance value in the sub-module for each of a plurality of sub-modules, determines a failure section of an internal failure based on the deviation in each sub-module when the internal failure is detected, and outputs an operation command based on a determination result to each sub-module.