This paper proposes a novel controllable inductive power filtering (CIPF) method to solve the power quality issues existed in the industrial DC power supply system. This method is based on the theory of magnetic potential balance and combined with the hybrid active filtering technology. First, the system topology and wiring scheme are presented, and the equivalent circuit and mathematical models of the filtering system are established. Then, to achieve a better filtering performance, a modified control strategy is designed. The technical features, such as harmonic suppression nearby the nonlinear load and resonance damping, are revealed by means of mechanism analysis. Furthermore, the system stability is discussed based on the Nyquist stability criterion. Finally, both the simulation model and the laboratory platform of the filtering system are established. The research results validate the theoretical analysis, and indicate that the proposed CIPF method with a suitable control coefficient can effectively eliminate the harmonics flowing through the transformer, and improve the operational efficiency of the rectifier system.