A method for primary frequency regulation (PFR)reserve procurement of a renewable energy power system is provided. The renewable energy power system includes synchronous power sources and renewable energy sources, and the renewable energy sources participate in frequency regulation using virtual synchronous machine (VSM) control. The method includes: aggregating generators in the synchronous power sources and renewable energy sources into an equivalent unit having an equivalent governor; based on the equivalent unit, determining system frequency dynamics of the renewable energy power system in a s-domain; transforming the s-domain to a time-domain equation for the system frequency dynamics in both over-damped and under-damped states; according to a first-order optimality condition of the time-domain equation, determining a time domain expression of frequency extremum; stabilizing system frequency of the renewable energy power system by adding a hyperplane based frequency stability constraint; and determining the PFR reserve procurement of the renewable energy power system.