In recent years, failure recovery after faults is concerned and discussed worldwide as an important and hot topic. Facing the challenge of heavy loads and ultrahigh voltage transmission, it’s urgent to propose some solutions to enhance transient voltage stability for failure recovery. Therefore, a novel dynamic volt ampere reactive (VAR) planning methodology is proposed in this paper to help failure recovery and improve transient voltage stability after contingencies. First, a transient voltage fluctuation (TVF) index is proposed to evaluate transient voltage condition after faults. Then dynamic compensation sensitivity is presented for searching the best candidate locations. Following that, the dynamic VAR planning methodology based on an improved Tent chaos multi-objective algorithm is discussed in detail. There are two optimization objects in the optimization. One is to minimize TVF to enhance transient voltage stability for failure recovery. And the other optimization is to minimize dynamic VAR investment cost and operation cost. Finally, IEEE 39 power system and a practical power system are analyzed and discussed. The proposed dynamic VAR planning methodology can support enough reactive power for failure recovery. With the least SVC planning amount and the power loss cost, it can greatly decrease the system TVF index and enhance the transient voltage stability. It’s proved that the proposed dynamic VAR planning optimization is effective and helpful for safety operation of power system.