The invention discloses a photovoltaic inverter circuit with a reactive compensation function. The circuit is characterized in that a photovoltaic battery is connected with a voltage stabilization capacitor in parallel through a diode and then is connected with a photovoltaic system through a three-phase fully controlled bridge circuit and a filter inductor. Reactive compensation on a power grid is achieved while photovoltaic grid-connected power generation is achieved. When the voltage of the photovoltaic grid-connected side is lower than that of the grid-connected point, certain reactive current is compensated to a power grid through the inverter, multifunctional use of the device is achieved, electric energy quality is improved, the whole system utilization rate is improved, repeated starting and stopping of grid-connected operation of a photovoltaic power generation device is avoided, and smooth transition is achieved.