The efficient operation of the present day power system is an important issue to satisfy the customer needs. To improve the performance of the existing power system, the flexible alternating current transmission system (FACTS) devices have been attracted by an engineering community with the expertise in power system. This article proposes the self-adaptive firefly algorithm (SAFA) for placement of FACTS devices, which identifies the appropriate type, best possible locations and optimal parameters of FACTS devices. Static var compensator, thyristor controlled series compensator and unified power flow controller are considers as FACTS devices for their placement. The objectives are to improve the power system performance by placement of FACTS devices through minimising real power loss, improving voltage profile and enhancing the voltage stability. Effectiveness of the proposed SAFA is tested on standard IEEE 30 and IEEE 57 bus systems with different objectives. The results are compared with other approaches, which clearly indicate the effectiveness and usefulness of the proposed method.