Hydrate-based H2 purification is promising for removing impurities owing to the cage-like structures formed by water molecules. Understanding the competition mechanism of multicomponent gas molecule in hydrate is critical for improving gas purification efficiency. This study investigated the hydrate structure, thermodynamics, and kinetics of ternary gas mixture (H2–CO2–CO) from natural gas reforming products. The results identified H2–CO2–CO hydrate as type sI and determined the lattice parameters using X-ray diffraction. Raman spectroscopy results confirmed the presence of H2, CO2, and CO gas molecules in the hydrate phase. Increasing pressure, compared to cooling, enhanced CO2 content in hydrate phase. The phase equilibrium conditions and average hydrate dissociation enthalpy (53.47 J/g) were determined using a high-pressure microcalorimeter. Gas chromatography identified that the content of CO2 in the hydrate was the highest, followed by H2, and CO was the least abundant. The molecule dynamics simulation results show CO2 molecule numbers reflected trends in 51262 cages, H2 numbers correlated with changes in 512 cages, while CO numbers showed insignificant variation. Under the gas composition studied, the ability of gas molecules to be incorporated within hydrates decreases in the following order: CO2, H2, and CO.