A high voltage thyristor valve is the basic component of an HVDC transmission system. Development of a 500kV valve for next generation HVDC transmission systems is described. First, the power loss of the valve is analyzed to decide a reasonable wafer size for the light triggered thyristor. From these results, a six inch diameter wafer size is selected. The light triggered thyristor, with ratings of 8kV and 3.5kA, is developed using the six inch wafer. The designing of the valve employing the thyristor and test results with the prototype valve prove that a 500kV valve can be realized by the design method.