The invention relates to a generation method of a pi-type equivalent circuit considering a three-phase imbalance factor and belongs to the technical field of electrical science. The method comprises following steps of S1, establishing a three-phase equivalent circuit model; S2, deriving a relation expression between alternating-current side three-phase current, alternating-current side three-phase voltage and direct-current side voltage; S3, deriving a relation expression between direct-current side current, alternating-current side three-phase voltage and direct-current side voltage; S4, establishing a relation expression between direct current and AC-DC current converter alternating-current side voltage; and S5, using amount in the relation expression obtained in the S4 to replace unknown variables in a traditional equivalent impedance circuit model so as to obtain an AC-DC current converter pi-type equivalent circuit considering the three-phase imbalance factor. According to the invention, a current converter is easily equivalent to an admittance matrix in load flow calculation; three phases of the alternating current side are separately calculated; and load flows under imbalance of the three phases can be achieved.