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This paper proposed a novel design of flexible controlled shunt reactor (FCSR) which can suppress over-voltages of high voltage transmission line in various situations flexibly, it not only has the smoothly and wide range continuously controllable features for the power frequencyover-voltage regulation, but also has the fast-switching ability and the nonlinear characteristics which can competent to rapid change in tide as well as the switching surge or impulse overvoltage control. It has stable control characteristics and fast transient response which can meet the various needs of the system, and has a broad application prospects. The magnetic circuit structure and working principle of FCSR are analvzed aswell as the technical features in the paper. Computer simulation results used in standard power system example and practical operation parameters confirmed the above advantages and effectiveness. It opens a new way to the voltage control and reactive power regulation of ultra high voltage transmission line.