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This paper presents the modelling and simulation of a single machine infinite bus (SMIB) system with a power system stabilizer (PSS), and TCSC based controllers using MATLAB programming. Different controller structures namely Lead-Lag (LL) and a proportional-integral (PI) for TCSC Controller have been proposed and comprehensive assessment effects of the tuned TCSC Controller on the test power system have been carried out. In order to test effectiveness of these controllers, simulations are carried out in different loading conditions under a symmetrical three-phase short circuit fault occurs at generator terminals. The simulation results show that the system composed with proposed controllers has the outstanding operation in fast damping of power system oscillations.