Abstract: Aiming at the problem that the multi-microgrid transactions in the zone are purely economic oriented and ignore the benefits of carbon emissions, a coupling market of peer-to-peer (P2P) energy trading and carbon trading is designed to further realize the low-carbon operation of the zone. Firstly, based on the marginal carbon emission factor of the distribution network, the measurement method of the low-carbon contribution of distributed renewable energy generation is proposed, and the revenue measurement model of each microgrid based on electricity-carbon trading is constructed. Secondly, by using the P2P trading mechanism based on game theory, a day-ahead electricity-carbon linkage market is designed under the condition of perfect competition, so that each microgrid can flexibly adjust the electricity generation and consumption behavior and the purchase and sale role according to the real-time electricity and carbon price; moreover, the existence of the designed market game equilibrium point is proved. Thirdly, based on the supply-demand relationship of electricity and carbon quotas, the expressions of electricity price and carbon price are derived, and a distributed optimization algorithm which can effectively ensure the privacy of users is proposed. Finally, simulation results verify that the designed market can effectively support the integration of economic benefits and low-carbon benefits in the zone.