A novel detection system for a static synchronous compensator based on a DSP is characterized by comprising a reactive compensation module, a control module, a drive module, an FPGA detection module, a protection module and a signal conditioning module. A working method of the novel detection system includes the steps of collecting real-time voltage and current information of a power grid, conducting digital-to-analogue conversion, sending out PWM pulses, putting in or cutting off a STATOCM submodule, and conducting real-time monitoring. The novel detection system has the advantages that the hardware device design is simple, software programming is popular and easy to understand, the response speed is high, system actions are accurate and reliable, and the control accuracy is high.