The invention discloses a branch-line voltage regulation device with a controller taking voltage as a criterion and a combination switch. The branch-line voltage regulation device comprises a core controller and the combination switch and is characterized in that the core controller carrying out analysis and calculation according to acquired three-phase alternating current voltage and parameters,and simultaneously sends out a control command to a fling-cut switch control module according to an analysis and calculation result to enable the corresponding combination switch to act to regulate the operation of a corresponding capacitor; when a reactive power supply outputs reactive power larger than a reactive load and losses in a network, the core controller controls to alleviate the operation of the capacitor; when the reactive power supply outputs the reactive power smaller than the reactive load and the losses in the network, the core controller controls to enhance the operation of the capacitor; and when the reactive power output by the reactive power supply is balanced with or basically balanced with the reactive load and the losses in the network, the core controller controls the capacitor to maintain the current state without changing. The invention realizes the automatic tracking of the change of input voltage and reasonable regulation on each branch-line voltage.