Abstract: A large proportion of distributed generation and electric vehicles are connected to distribution station areas. This results in several problems, such as insufficient hosting capacity, unbalanced load rates, and out-of-limit voltage. The flexible interconnection of the station areas is an effective solution to these problems. This paper proposes a master-slave game planning model for the flexible interconnection of distribution station areas, considering economic and power supply capacities. The proposed model considers economic decision-making as the main player and power supply capacity decision-making as the subordinate player, jointly participating in the planning decision-making process. First, a power flow model of the substation area is established using a DC bus-segmented chain flexible interconnection structure. Subsequently, a planning model based on a master-slave game is established. The interconnection schemes and installed capacity of the interconnected devices are used as the main player strategy, the minimum annual comprehensive cost is the payment. The load apparent power of the substation areas is used as the subordinate player strategy, and the maximum power-supply capacity under N-0 security constraints is the payment. The power-flow constraints of the substation areas operation are considered in the model. The particle swarm optimization algorithm is used to solve this problem. Finally, an IEEE-33 node distribution network connected to a high proportion of photovoltaic power generation in the substation area is analyzed. The results show that the proposed model can balance the operational economy and power supply capacity of the system.