Abstract: In the fluctuation suppression process of the new-type power system with high penetration of wind power, the issues of work coordination and energy efficiency of hybrid energy storage equipment supporting the source side have become prominent. A wind power fluctuation suppression strategy for hybrid energy storage considering dynamic energy efficiency characteristics was proposed. Firstly, to address the issue that the constant efficiency model cannot describe the actual nonlinear dynamic energy efficiency characteristics of energy storage, a ladder energy storage efficiency model and its construction method were proposed to characterize the differentiated efficiency characteristic curves of multiple types of energy storage, so as to describe the dynamic energy efficiency level of energy storage operation in real time. Secondly, a two-layer rolling optimization control model for hybrid energy storage was developed. The upper-layer model adopted the ensemble empirical mode decomposition (EEMD)-fast Fourier transform (FFT) algorithm, and solved for the pre-dispatching scheme based on grid-connected fluctuation limits and energy storage response capability. The lower-layer model was based on the Pareto front-technique for order preference by similarity to ideal solution (Pareto-TOPSIS) to construct a real-time dynamic decision-making mechanism. This mechanism performed secondary optimization on the pre-dispatching plan according to the energy efficiency level and grid-connected fluctuation, thereby achieving the dynamic balance between the goals of fluctuation suppression and self-energy loss reduction. Case study results show that compared with the step-by-step optimization model, the proposed model not only maintains a good fluctuation suppression level, but also reduces energy storage energy loss and operation and maintenance costs by 46.7% and 34.4% respectively, and reduces the operation time proportion of flow batteries in the high-energy-efficiency state to 14.6%. The model effectively improves the economy of control coordination and cooperation of hybrid energy storage, and takes into account the dynamic efficiency characteristics of hybrid energy storage.