Nowadays, some Multi-terminal DC (MTDC) systems are in operation around the world. Soon, MTDC grids will be built and overlay the present AC grids. The main driver for the construction of such a grid is to facilitate large-scale integration of remote renewable energy sources to existing AC grids and to develop the energy market. This paper presents a comprehensive analogy between the control and operation aspects of the emerging MTDC grids to those of the traditional AC power grids. Similarities and difference between the two technologies are presented and highlighted. Based on the performed detailed overview, even though a three-layered control system, i.e., primary, secondary, and tertiary control layers is state-of-the-art in large-scale AC power systems, a two-layered control system will satisfy MTDC grids control and operation requirements. This paper also addresses some control and operational issues and limitations of MTDC grids.