Improved and controlled power quality is one of the essential and fundamental need in any power driven industry for optimum utilization of resources. However critical problems in power quality have been recognized such as sags, swells, harmonic distortions and other interruptions. Out of these sags and swells are predominantly found and have severe impact on the electrical devices or electrical machines and therefore needs to be compensated at an earliest to ensure any mal-operation or failure. To crack these problems custom power devices are used like unified power-quality conditioner (UPQC), distributionSTATCOM (DSTATCOM) and dynamic voltage restorer (DVR). The DVR is a one of the custom power device used for the compensation of voltage sag and swell with an advantage of active/reactive power control. A major volume of literature reported in past several years on different configurations of DVR and different control technique used in it. In context of this a detailed review on DVR has been presented with different possible power circuit topologies and control techniques available to reconcile these power quality issues. This review article will contribute in better selection of control strategy and power circuit for optimum performance of DVR for a particular requirement. Also it presents a very helpful investigation for the researcher in this field.