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 couple 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; a power switching device adapted to enable or interrupt a power transmitting between the transmission unit and the output unit; and a second motor generator configured to drive the at least one of the front and rear wheels.