Reactive power resource management is a crucial and vital step in order to have a safe and cost-effective power system option when it comes to voltage stability. The optimal reactive power dispatch (ORPD) has a key aim to find out the appropriate control variable values, for example, shunt VAR compensator settings, generator bus voltages, and tap settings of on-load tap change (OLTC) transformers. This objective is designed, by taking the constraints into account, and to ensure that the objective function is reduced. In the current research work, the researchers proposed a levy interior search algorithm (LISA) in order to elucidate multi-objective optimal reactive power dispatch challenges that mitigate the real power loss, and at the same time, it also saves the voltage quality. In this research article, the researchers considered real power loss and voltage stability index as objective functions. The paper has a primary objective, i.e., by taking large-scale power system into account, the researchers proposed a multi-objective interior search algorithm in order to get rid of multi-objective ORPD problem and to yield the best results from the secure and cost-effective operation of electric power systems. The researchers simulated the setup under IEEE 57-bus and large-scale IEEE 300-bus system to emphasize the efficacy of LISA. From the results, it can be confirmed that the proposed approach yielded much better results than the existing algorithms.