In order to further improve the power and fuel economy of hybrid vehicles, this paper proposes a method of hybrid vehicle powertrain matching by combining orthogonal tests with Cruise software, supplemented by the control strategy formulation of critical components of the whole vehicle on the MATLAB/Simulink platform. Considering the influence of vehicle engine, electric motor, battery and overall mass on the powertrain design, the L9(34)-type orthogonal table is selected for the orthogonal test design. After verifying the feasibility and accuracy of each design solution of the powertrain, the different design solutions are simulated for power and economic performance. Finally, the best performance indicators of the vehicle are as follows: the maximum speed is 183.35 km/h, the 0–100 km/h acceleration time is 6.87 s, and the maximum degree of climbing is 39.65 percent. The fuel consumption of 100 km is 3.47 L. The optimal solution was compared with the third-generation Harvard H6 and AITO M5 in terms of fuel saving and emission reduction, and it was found that for every 15,000 km driven, it is expected to save 469.5 L of fuel and 109.5 L of CO2, respectively, which can reduce fuel use and emission by about 1051.21 kg and 245.17 kg CO2, respectively. This simulation experiment can reduce the workload of traditional power system matching. It can provide ideas for power system matching and optimization for Corun CHS Technology Co., Ltd. (Foshan City, Guangdong Province, China) and offer a certain degree of reference for hybrid vehicle power system design and simulation.