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A comprehensive investigation on the effects of HVDC parameters to system power losses is carried out in this paper. The parameters include converter location, length of DC line and power flow control. Based on the research on the power transmission mode via AC and DC parallel lines, the elements of the power losses of DC subsystem and AC subsystem are analyzed. The major factors affecting the power losses of both AC and DC line are presented in this paper. According to different operation modes of HVDC systems, quantitative analysis on the effects by HVDC control strategy on losses of AC/DC parallel transmission system is presented. The numerical simulation results are presented in the paper, which show that both the losses of HVDC power transmission systems and transmission costs can be effectively reduced with well designed active power parameters and reactive power compensation scheme.