The invention relates to a heat dissipation structure of a reinforced electric power compensation capacitor. The heat dissipation structure comprises a barrel-shaped housing. Multiple capacitor elements are disposed in the housing. Insulating paper wraps the capacitor elements. Insulating paraffin is formed between the insulating paper and the inner wall of the housing through filling. A heat conduction cylinder made from heat conduction high-molecular polymeric material sleeves the central portion of the insulating paper. Four heat conduction crossbeams are integrally formed in four positions of the periphery of the central portion of the heat conduction cylinder, and are spaced apart from each other at equal intervals. An arc heat conduction sheet clinging to the inner wall of the housing is integrally formed on the outer end of each heat conduction crossbeam. Silica particles are evenly distributed in the insulating paraffin. The heat conduction cylinder made from heat conduction high-molecular polymeric material is adopted to absorb the heat of the capacitor elements. Meanwhile, silica particles are added in the insulating paraffin, and such as heat conduction structure enables the heat dissipation performance of a compensation capacitor to be greatly enhanced and the performance index of the compensation capacitor to be improved.