Abstract: As a flexible resource with energy storage characteristics, virtual power plant (VPP) is becoming more and more important in cooperating with the grid for peak load shaving and new energy accommodation. However, its poor economy and efficiency in market operation directly leads to its lack of enthusiasm in participation in the market. In view of this, this paper proposes a collaborative work strategy for VPP participating in electricity energy market and auxiliary services market. Firstly, based on the spot market electricity price and the aggregation of VPP, the strategy for the VPP participating in the market in each time period is determined. Secondly, taking the maximum revenue of VPP as the goal, the dynamic programming method is used to establish a collaborative optimization model of VPP participating in the spot electricity energy - FM market under multi-time scale. Finally, through simulation, we analyzed and compared the revenue and utilization rate of the VPP participating in the separate market and the joint optimization. The shapely value method is used to analyze the revenue sharing of various resources participating in the aggregation of the VPP, so as to validate the feasibility and validity of the scheme proposed in this paper.