In this study, on basis of a novel control scheme for Interline Power Flow Controller (IPFC), the dynamic performance of the IPFC is investigated. For this purpose, the Heffron-Phillips model of a Single machine power system is extracted and a novel feedback-based supplementary IPFC controller is applied to the power system. The Particle Swarm Optimization (PSO) algorithm which has a powerful potential to find the optimal solutions is employed to achieve the global optimum design of the feedback controller parameters. Thus, to better assessment, the potential of various IPFC control signals upon the power system's different operating conditions is investigated through the time domain simulation. The results in time-domain simulation analysis reveals that the designed PSO based IPFC controller tuned by the proposed objective function has an excellent capability in damping power system low frequency oscillations and enhance greatly the dynamic stability of the power systems. Moreover, the system performance analysis under different operating conditions show that the m_1 (magnitude of injected voltage) based controller is superior to the other based controller.