Abstract: In view of the problem that the current soft open point（SOP） planning method does not involve the access mode between feeder loops and the influence of distribution network reliability, a method for the location selection and capacity allocation of SOP within feeder loops and between feeder loops considering the failure loss cost is proposed. Firstly, the benefits of two access modes of SOP to the operation of distribution networks are analyzed, and a hybrid SOP and a linkage control scheme between SOP and the tie switch are proposed for in-loop access. Secondly, a bi-level programming framework and model are constructed considering the benefits of normal and fault operation of distribution networks. In the model, the planning layer aims to minimize the annual comprehensive cost of the system, the normal operation layer optimizes the network state considering the three-phase power flow regulation function of SOP, and the fault operating layer calculates the fault cost based on sequential Monte Carlo simulation reliability evaluation method. Thirdly, facing the nonlinear characteristics of mixed integer between discrete and continuous variables of the model, a solution method based on improved particle swarm optimization and cone programming is proposed.Finally, an example is given to verify the effectiveness of the proposed method.