To solve the practical problem of excessive active capacity demand and high industrial economic cost when merely using active power filter to compensate reactive power and harmonics, this essay presents a T-PAPF compensation device with the combination of PAPF and TSF. The topology structure and basic theory of the T-PAPF compensation device are analyzed and the parameters and control strategy of the system are designed. The stability of PCC transient voltage is analyzed based on the solution of CUEP and the simulation of the system is established by Matlab. The simulation results show that with T-PAPF put into use, the stability of PCC transient voltage is enhanced, the harmonic current in the grid is heavily reduced and the power factor of the system is well improved. The T-PAPF device is suited for compensating nonlinear load and has less active compensation capacity demand, which can effectively improve the economic performance of the project.