The invention provides a hybrid simulation method and system for a power system containing a distributed power supply. The method comprises: when the power simulation system reaches a stable state time point, performing equivalent calculation on an electromechanical transient subsystem of a pre-constructed hybrid model to obtain an equivalent circuit of the electromechanical transient subsystem and instantaneous frequency of an interface bus, and transmitting the equivalent circuit and the instantaneous frequency to an electromagnetic transient subsystem of the hybrid model; simulating the electromagnetic transient subsystem within a set time length; based on the parameters of the interface of the electromagnetic transient subsystem, the electromagnetic transient subsystem is equivalent, an equivalent circuit of the electromagnetic transient subsystem is obtained, and fundamental frequency voltage and current values of an interface bus are extracted through fast Fourier transform and transmitted to the electromechanical transient subsystem; and simulating the electromechanical transient subsystem within a set time period until the simulation is finished.