Following a frequency event in a power system, synthetic inertia control (SIC) of a wind turbine generator (WTG) can improve the frequency nadir by instantly releasing the stored kinetic energy in the rotating masses. However, SIC might lower the settling frequency below the maximum steady-state frequency deviation, thereby disabling automatic generation control (AGC). This delays frequency recovery to the nominal value. This paper proposes a closed-loop SIC scheme for a WTG in association with slightly over-speeded deloading operation (SODO) that can improve both the frequency nadir and settling frequency. To achieve this, prior to an event, the proposed SIC scheme performs SODO, which can store more releasable energy into the rotating masses of a WTG while minimizing the energy loss. The proposed scheme can improve the frequency nadir by releasing more energy, improve the settling frequency, which enables AGC, and avoid over-deceleration of the rotor speed of a WTG in the low wind speed region. Simulation results clearly demonstrate that the proposed SIC scheme can improve both the frequency nadir and settling frequency under various wind conditions, event sizes, and penetration levels, thereby supporting the frequency stability in a power system that has a high penetration of wind power.