The control and protection system plays an essential role in the overall performance of Static Var Compensator (SVC) applications to enhance reliability of power systems. SVC systems are custom designed according to one of several topologies intended for specific applications. An extensive protection system is ultimately intended to make use of the maximum operational limits of the equipment. Increasingly, modern protection systems are fully integrated with the development of communication protocols and multifunctional Intelligent Electronic Devices (IED). This guide outlines the current practice of modern protection system design for SVCs. Though it includes a brief overview of conventional protection schemes, the main focus is on special protection schemes required for SVC applications and protection functions integrated in the SVC control system or IEDs. The special protection schemes includes protecting substation buses, SVC power transformer and associated branches such as Thyristor Controlled Capacitors (TSC), Thyristor Controlled Reactors (TCR), harmonic filter banks, SVC grounding transformer and auxiliary transformers connected to the SVC MV bus. The guide also discusses the protection functions integrated in the SVC control system to protect the SVC and its main components such as thyristor valves and thyristor valve cooling systems. Finally, the guide illustrates the interaction of protective functions with the power system when exposed to transients during system disturbances, severe harmonics and DC current.