The practical applications of quantum computing is currently limited by the small number of available qubits. Recent advances in quantum hardware have introduced midcircuit measurements and resets, enabling the reuse of measured qubits and thus reducing the qubit requirements for executing quantum algorithms. In this work, we present a systematic study of dynamic quantum circuit compilation, a process that transforms static quantum circuits into their dynamic equivalents with fewer qubits through qubit reuse. We establish the first graph-based framework for optimizing qubit-reuse compilation. In particular, we characterize the task of finding the optimal compilation strategy for maximizing qubit reuse using binary integer programming and provide efficient heuristic algorithms for devising general compilation strategies. We conduct a thorough analysis of quantum circuits with practical relevance and offer their optimal qubit-reuse compilation strategies. We also perform a comparative analysis against state-of-the-art approaches, demonstrating the superior performance of our methods in both structured and random quantum circuits. Our framework lays a rigorous foundation for understanding dynamic quantum circuit compilation via qubit reuse, holding significant promise for the practical implementation of large-scale quantum algorithms on quantum computers with limited resources.