A system and method to dynamically balance power to a multi-node system is disclosed. A chassis management controller is operable to regulate the power from a power source to each of the nodes. The chassis management controller determines a setting power for each nodes and a real power consumed by each node. The chassis management controller determines a next setting power for each node based on the real power and unused total power and total additional balance power for the plurality of nodes. The chassis management controller commands each node to regulate the power consumption of the node up to the setting power value.