According to power quality concerns, the insertion of capacitor banks into the electrical power system is interested in the case of power factor compensation and voltage support. Due to capacitor bank switching process, a transient overvoltage appears on the system and represents hazard on equipment insulations. In this paper the capacitor bank switching overvoltage dependent parameters are studied and the artificial neural network (ANN) is used to estimate this overvoltage. ANN is trained according to the factors that affect the overvoltage. ANN training data is provided by MATLAB/Simulink environment. The simulated results show that the proposed technique can estimate the peak values and durations of capacitor bank switching overvoltages with good accuracy.