A dynamic power equalizer comprises an array waveguide grating having an input waveguide and an output waveguide at one end, and an input waveguide group and an output waveguide group at the other end. The double loops are composed of the input waveguide and the output waveguide group, and the input waveguide group and the output waveguide are used to process the input optical signal components having different powers into the output optical signal having a single and equalized optical power through wavelength-division de-multiplexing and wavelength-division multiplexing, thus achieving dynamic optical power equalization.