The invention relates to a reactive power continuous rapid compensation device. According to the device, a capacitor C and a controllable reactor L are connected in parallel; for the controllable reactor L, coils L1 and L3 are on one core column; coils L2 and L4 are on another core column; the coils L1 and L4 respectively have two taps delta1 and delta2, dotted terminals of the coils L1 and L2 are connected with one terminal, a synonym terminal of the coil L1 is connected with a dotted terminal of the coil L4, a synonym terminal of the coil L2 is connected with a dotted terminal of the coil L3, and synonym terminals of the coils L3 and L4 are connected with another terminal; the two taps delta1 and delta2 of the coil L1 are connected with the dotted terminal of the coil L3 through thyristors D1 and D3, and the tap delta2 is connected with the dotted terminal of the coil L3 through a thyristor D5; the two taps delta1 and delta2 of the coil L4 are connected with the synonym terminal of the coil L2 through thyristors D2 and D4, and the tap delta2 is connected with a synonym terminal of the coil L3 through a thyristor D6; a diode D7 is connected between synonym terminals of the coils L1 and L2.