The invention discloses a direct electricity purchase bilateral trade contract electricity price formulating method based on a leader-follower game. The method adopts a leader-follower game model to study an optimal contract offer decision of a generation company in direct electricity purchase bilateral trade: first, optical planning models of generation companies and big consumers are built respectively, and then a complete leader-follower game model containing two interested parties of a plurality of generation companies and a plurality of big consumers is built. The method provided by the invention provides a basis for contract electricity price formulation for the generation companiesin a bilateral trade process, and also provides a basis for electricity purchase decision for the big consumers under a determined generation company bilateral contract offer, thereby realizing maximum contract electricity-selling profits of the generation companies and minimum electricity purchasing cost of the big consumers under a determined contract electricity price in bilateral trade with participation of the plurality of generation companies and the plurality of big consumers.