The invention discloses a layered control device and method of a magnetic control type controllable shunt reactor. A station-level master control unit makes total reactive power of a running reactor in a station satisfy a set total reactive target or makes a bus or a line voltage satisfy that a set system voltage target is the target, and outputs a target increase and decrease adjustment instruction to each excitation control unit. The excitation control unit changes a voltage control target value of the excitation control unit according to the received target increase and decrease adjustmentinstruction, obtains a corresponding phase shift trigger angle, and sends the phase shift trigger angle to the excitation trigger unit. The excitation trigger unit adjusts a phase control trigger angle of an excitation power rectification loop connected with a control winding of the magnetic control type controllable shunt reactor based on the received phase shift trigger angle. In the invention,single closed-loop control of the magnetic control type controllable reactor and upper layer coordination control are realized, control function arrangement is optimized, and control redundancy is improved to the greatest extent to ensure stable operation of the reactor.