A power transmission system for a vehicle and a vehicle including the same are provided. The power transmission system includes an engine unit configured to generate power, a transmission unit adapted to selectively be coupled with the engine unit, and configured to transmit the power generated by the engine unit, a first motor generator coupled with the transmission unit, an output unit configured to transmit the power output by the transmission unit to at least one of front and rear wheels of the vehicle, and a second motor generator configured to drive the at least one of the front and rear wheels.