The invention discloses the technical field of power systems, and provides a multi-target reactive optimization method for a power distribution network, and terminal equipment. The method comprises the steps: taking distributed power investment benefit, branch voltage stability margin and system reactive network loss as a target function, and taking equality constraints, inequality constraints andchance constraints as the constraint conditions to build a multi-target reactive optimization mathematical model; determining a satisfaction function through a weight coefficient method according tothe multi-target reactive optimization mathematical model; solving the satisfaction function through an adaptive ion cluster algorithm based on distribution entropy, and generating a reactive optimization result. The method can improve the precision of the multi-target reactive optimization result of the power distribution network, and improves the optimization speed.