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Modern power systems are high-order multivariable process operating in a constant changing environment. The transient analysis of such dynamic systems are therefore challenging because of their hybrid nature of the loads. The EMTP concept is universally accepted; however, due to the limitation of practical computer storage and computation time, the implementation of large complex power systems in EMTP is difficult. To overcome such problem, time domain dynamic phasor models has been applied based on the generalized averaging theory to analyze power electronic devices and network wide voltages and currents dynamic phasors. This paper deals with the modeling of modern power systems transients analysis using dynamic phasor models of DVR and investigated the performance of the dynamic phasor models through analysis and simulation platforms. The developed theoretical framework has been verified using Simulink dynamic system modeling software. It is found that the transient response of dynamic phasor model of the system closely hugged with the detail time domain EMTP simulation and faster numerical simulation with larger size steps through solving differential equation.