The large-scale integration of renewable power generators in power grids may cause complex technical issues, which could hinder their hosting capacity. In this context, the mitigation of the grid voltage fluctuations represents one of the main issues to address. Although different control paradigms, based on both local and global computing, could be deployed for online voltage regulation in active power networks, the identification of the most effective approach, which is influenced by the available computing resources, and the required control performance, is still an open problem. To face this issue, in this paper, the mathematical backbone, the expected performance, and the architectural requirements of a novel decentralized control paradigm based on dynamic agents are analyzed. Detailed simulation results obtained in a realistic case study are presented and discussed to prove the effectiveness and the robustness of the proposed method.