The invention discloses a novel reactive compensation and harmonic suppression device, and the device comprises a passive filter which consists of a fifth-order single-tuned passive filter, a seventh-order single-tuned passive filter and an eleventh-order single-tuned passive filter, wherein the fifth-order single-tuned passive filter, the seventh-order single-tuned passive filter and the eleventh-order single-tuned passive filter are connected in a star shape. The device also comprises a zero sequence power active filter, a hybrid power active filter which filters second-order and fourth-order harmonic waves, an IGBT drive circuit, and a DSP control circuit. The DSP control circuit includes a DSP digital signal processor, an FPGA programmable logic device, an external ADC converter, and aphase locked loop circuit. The passive filter is connected to three phase a, c and c of a low-voltage side of a distribution transformer. The hybrid power active filter is formed by the cascading ofa passive part and an active part. The device achieves the extraction of second-order and fourth-order harmonic current signals from a nonlinear load, enables the second-order and fourth-order harmonic current signals to serve as the control signals of the power active filter, thereby achieving the effective control of the power active filter, and effectively filtering the second-order and fourth-order harmonic currents.