Abstract An integrated energy system (IES), functioning as a multi-input, multi-output apparatus, incorporates diverse power conversion and storage device. Typically, the energy hub visually demonstrates its multi-energy coupling. However, traditional energy hub models tend to ignore the variable operating condition characteristics of conversion device, that is, the actual operation efficiency fluctuates with the load rate. Consequently, it results in constant coupling coefficients in the energy hub coupling matrix, causing discrepancies between the IES operating state and actual conditions, affecting the operation scheme’s economy. Therefore, this study focuses on IES optimized operation method, which is based on variable operating condition characteristics, incorporating conversion device operating efficiency and load rate relationships into EH models. Development of a dynamic energy hub (DEH) model that takes into account the variable operating condition characteristics of the conversion device, operational efficiency of the device is corrected in real time, and an optimal scheduling model is built with the objective of optimal IES economy, designing different scenarios for simulation and verification with an IES as an example. The study demonstrates that incorporating device operating condition dynamics into scheduling scheme effectively minimizes system expenses and enhances the system’s integrity and feasibility.