Abstract: Synchronous condenser is an important reactive resource of power system，the operation of which is significant. Its model has always been a major concern to researchers, because accurate and reasonable synchronous condenser parameter is the basis of analysis and calculation of system dynamic behavior. With the increasing of the safety and stability of power grid, it is more imperative to obtain modeling and parameter identification method. In this paper, generator and excitation system model and parameter identification of synchronous condenser are studied and summarized, in order to obtain its equivalent model which can in accord with or be close to practical operation state.