A control device for a self-exciting current source electric power converter comprising a plurality of the self-turn-off devices connected in a bridge, and n-sets (n=a multiple of 2) of the electric source electric power converters, which convert AC into DC, or, convert DC into AC, wherein said converters are divided into two groups, an electric power regulating circuit, which controls the AC current of each converter, is provided for each group; an active current command value and the reactive electric power command value of all the electric power converters are inputted into the input side of the electric power regulating circuit respectively; at the same time, a positive arbitrary reactive power shift value (+Q) is added to one of the reactive electric power command values; a negative arbitrary reactive power shift value (-Q) is outputted to the other reactive electric power command values; and the both reactive power shift values are offset each other.