A reactive power compensator according to an embodiment comprises: multilevel inverter circuits respectively constituting each of the three phases; a filter circuit for reducing harmonics connected between the output terminals of each of the multilevel inverter circuits and a power system interconnection terminal; and a control section for causing prescribed three-phase AC voltage to be output by controlling each of said multilevel inverter circuits. Each of the multilevel inverter circuits is constituted by connecting in series one or more single-phase full-bridge single-pulse inverters and is arranged to convert DC voltage to respective positive and negative single-pulse voltages once per cycle of the fundamental wave of the voltage instruction value.