A new concept, the multi level voltage/current reinjection ac/dc conversion, is described in this thesis. Novel voltage and current source converter configurations, based on voltage and current reinjection concepts are proposed. These converter configurations are thoroughly analyzed in their ac and dc system sides. The fundamentals of the reinjection concept is discussed briefly, which lead to the derivation of the ideal reinjection waveform for complete harmonic cancellation and approximations for practical implementation. The concept of multi level voltage reinjection VSC is demonstrated through two types of configurations, based on standard 12-pulse parallel and series connected VSC modified with reinjection bridges and transformers. Firing control strategies and steady state waveform analysis are presented and verified by EMTDC simulations. The multi level current reinjection CSC is also described using two configurations based on standard 12-pulse parallel and series connected CSC modified with associated reinjection circuitry. Firing control strategies and steady state waveform analysis are presented and verified by EMTDC simulations. Taking the advantage of zero current switching in the main bridge valves, achieved through multi level current reinjection, an advanced multi level current reinjection scheme, consisting thyristor main bridges and self-commutated reinjection circuitry is proposed. This hybrid scheme effectively incorporates self-commutated capability into a conventional thyristor converter. The ability of the main bridge valves to commutate without the assistance of a turn-off pulse or line commutating voltage under the zero current condition is explained and verified by EMTDC simulations. Finally, the applications of the MLCR-CSC are discussed in terms of a back to back HVDC link and a long distance HVDC transmission system. The power and control structures and closed loop control strategies are presented. Dynamic simulation is carried out on PSCAD/EMTDC to demonstrate the two systems ability to respond to varying active and reactive power operating conditions.