Aim To present a simple and effective method for the design of nonlinear and time varying control system. Methods A new concept of dynamic equilibrium of a system and its stability were presented first. It was pointed out that what is controlled directly by the input of a control system is the system's dynamic equilibrium rather than the states. Based on it, a new feedback linearization method for nonlinear system based on the Lyapunov direct method was given. Simulation studies were also carried out. Results The example and simulation show that by use of the method, the controller design becomes very simple and the control effect is quite satisfying. Conclusion The new method unifies the stabilizing problem(regulating problem) with the tracking problem. It is a very simple and effective method for the design of nonlinear and time varying control system.