A transmission system of a hybrid electric vehicle may include an input shaft connected to an engine, a planetary gear set including a first rotation element operated as an output element, a second rotation element connected to the input shaft and operated as an input element, and a third rotation element operated as another output element, a first motor operably connected to the first rotation element, and selectively connected to a transmission housing, a first motor/generator configured to generate electric energy by receiving torque through the first motor shaft, a second motor shaft being a hollow shaft, disposed at a radial exterior of the first motor shaft without rotational interference with the first motor shaft, and operably connected to the third rotation element so as to receive torque of the engine, and a second motor/generator disposed on the second motor shaft and outputting torque through the second motor shaft.