The utility model discloses a chain type static var generator chain link online bypass circuit. The chain type static var generator chain link online bypass circuit is characterized in that the chain type static var generator chain link online bypass circuit comprises four parallel branches, wherein the first branch is serially connected with first and second injection enhanced gate transistors (IEGT1, IEGT2), the second branch is serially connected with third and fourth injection enhanced gate transistors (IEGT3, IEGT4), the third branch is serially connected with a thyristor (SCR), a resistor (R) and an inductor (L), the fourth branch is connected with a capacitor (C); and switch lines are led between the first and second injection enhanced gate transistors of the first branch and the third and fourth injection enhanced gate transistors of the second branch to be connected on two sides of a parallel branch switch (KM) and the upper and lower chain link outgoing lines of a chain link. According to the utility model, the advantage of simple, reliable and feasible structure can be realized, the latching valve group pulse does not needed, and the uninterrupted operation of a chain type static var generator can be ensured when the chain link is failed.