Abstract: Owing to the large-scale development of renewable energy and the high proportion of grid connections, hybrid virtual power plants have gradually become one of the key technologies for fully exploiting the economic and environmental benefits of new power systems. This study focuses on the multi-objective optimization of an electric-hydrogen coupling virtual power plant. First, a virtual power plant with electric-hydrogen coupling, which comprises a distributed wind turbine, micro gas turbine, distributed energy storage, and flexible load, is constructed. Second, the carbon-emission coefficient of the components of the virtual power plant is measured using the multi-agent full life-cycle method, which is combined with the stepped carbon-trading mechanism in the optimization model. Third, considering the minimum operating cost and lowest carbon-dioxide emission in the system as the objective function, the multi-objective optimization is transformed into a single-objective optimization using the weighting method. Finally, three typical scenarios in a park in North China during summer, a transition season, and winter are selected for analysis to verify the effectiveness and feasibility of the model. The simulation results show that the model considers the economic and environmental benefits of operating the main equipment in the virtual power plant.