The invention discloses an MMC topology-based distributed hybrid energy storage and power compensation system. A single-star topological structure is adopted; sub-modules comprise energy storage medium parts and power level parts; each energy storage medium part comprises at least one energy storage battery and a capacitor; the batteries and the capacitors are connected to a main circuit loop through power-level different ports; and each power level part comprises a bridge arm module structure or a T-shaped module structure comprising power switches and power diodes. By the system, a high-current power reactor does not need to be used on the basis of not significantly increasing the number of the sub-modules; the power levels of the sub-modules are multiplexed; two kinds of energy storage mediums of the energy storage batteries and the capacitors are dispersedly distributed into various sub-modules to facilitate power balance on various energy storage mediums; and cooperative work of multiple mediums is conducive to technological economy consideration and optimization of an energy storage technology in multiple dimensions of the lifetime, the response speed, the conversion efficiency and the like.