In　this　paper,　multi-objective　reactive　power　compensation　based　on　optimal　and　simultaneous　allocation　of　capacitors　and　distribution　static　compensator　(DSTATCOM)　in　radial　distribution　networks　based　on　fuzzy　decision　making　is　proposed　with　the　aim　of　reducing　power　losses　cost,　reactive　investment　cost　and　reducing　voltage　deviations　considering　power　loss　reduction　factor　(PLRF)　to　identify　candidate　buses.　Optimal　location　and　size　of　reactive　resources　is　determined　based　using　multi-objective　improved　golden　ratio　optimization　algorithm　(MOIGROM)　inspired　by　Fibonacci　series　and　improved　using　nonlinearly　inertia　weight　strategy.　This　method　is　performed　on　a　13　bus　distribution　network,　69　and　118　buses　IEEE　standard　networks　in　various　scenarios　including　capacitor　allocation　only,　DSTATCOM　allocation　only　and　optimal　and　simultaneous　capacitor　and　DSTATCOM　allocation　(hybrid　allocation).　The　simulation　results　showed　that　the　hybrid　allocation　has　less　power　losses　and　voltage　deviations　in　different　scenarios　using　fuzzy　decision　making　based　on　Pareto　front　set.　Also　the　impact　of　different　loading　conditions　on　problem　solution　cleared　that　with　increasing　the　load　level,　especially　during　the　heavy　load,　the　power　losses　and　voltage　deviations　of　the　networks　increase　and　vice　versa.　In　addition,　the　advantage　of　the　MOIGROM　method　over　the　other　methods　is　confirmed.