A power generation device capable of maximum power tracking includes a power generation assembly and at least one optimizer, the optimizer includes a maximum power tracking circuit, a drive control circuit, a first switch and a second switch arranged in a chip. The maximum power tracking circuit includes a voltage and current detection unit, a multiplier, and a maximum power tracking processing unit, wherein the multiplier is configured to multiply an assembly output voltage of the power generation assembly by an assembly output current of the power generation assembly to obtain an assembly output power of the power generation assembly; the maximum power tracking processing unit is configured to track and determine a current maximum power of the power generation assembly according to the assembly output power, determine the duty ratio signal according to the current maximum power, and send the duty ratio signal to the drive control circuit.