A vehicle hybrid power system is provided according to the present invention. The hybrid power system is characterized by applying the concept of minimum equivalent fuel consumption, and then simulating equivalent fuel consumptions based on respective energy consumption or increase of motor and generator of a motor vehicle, and also defining simulated equivalent fuel consumption formula and making a list of system state parameters, system control parameters, and system negative load parameters, thereby obtaining simulated equivalent fuel consumption multidimensional data by entering the system parameters derived from a discretization/transformation process in the defined simulated equivalent fuel consumption formula; wherein, the simulated equivalent fuel consumption multidimensional data are revised to comprise subsystems, such as system engine, motor, generator, and others to determine a system control strategy of holistic optimization, thereby achieving the objective of saving energy. The present invention further provides a method for creating simulated equivalent fuel consumption multidimensional data, which is applicable to the hybrid power system of the present invention.