The invention discloses a configuration method and a device of installation points of a dynamic reactive power compensator. The method comprises steps of acquiring a target fault set, wherein when any one fault in the target fault set occurs in any one node in a power grid, the transient voltage of the power grid is instable; carrying out time domain simulation on a fault I the target fault set so as to obtain corresponding first simulation data; according to the first simulation data obtained through simulation, calculating an equivalent admittance variable quantity index of each node in the power grid, wherein the equivalent admittance variable quantity index is used for indicating whether a corresponding node is a candidate node for installation of the dynamic reactive power compensator; and according to the calculated equivalent admittance variable quantity index of each node, determining the candidate node for installation of the dynamic reactive power compensator. According to the invention, a technical problem of poor evaluation effects of voltage stability of an electric power system in the prior art is solved.