Dynamic voltage restorer (DVR) is one of the fast and efficient compensation devices for the power quality. A multi-function DVR topology structure with common DC side is presented. It is installed between medium voltage feeders and includes two series converters. One of them is to filter the voltage harmonics generated by nonlinear loads on one feeder, and to keep DC-link voltage constant. The other can compensate dynamic voltage and suppress the voltage disturbance. It also have a fast current limiting function under the short-circuit fault conditions. Combined with filtering and voltage control, and double closed loop proportional-resonant control of voltage and current, the operational mechanism and the switching process of the new topology are introduced. Finally, simulation results show the validities of the proposed topology and control scheme. This work is supported by National Natural Science Foundation of China (No. 51377051).