In this paper, a Dynamic Voltage Restorer (DVR) without any energy storage devices is proposed to compensate network voltage during disturbances. This DVR utilizes a matrix converter in its topology which eliminates the DC-link capacitor of conventional DVR. The modulation method for matrix converter which is used in this paper is indirect space vector modulation. A fuzzy PI controller is proposed instead of conventional PI controllers. The proposed topology is able to compensate balanced sags/swells as well as unbalanced ones. Moreover it can compensate harmonic pollution of the input source. The simulation results in MATLAB/Simulink environment show that the proposed DVR operates well during different disturbances and it has the ability to control the sensitive load voltage.