The redundant design of multi-paralleled bidirectional power converters (BPCs) provides technical support for hybrid microgrid systems to consume more distributed generations (DGs) and DC loads. However, the multi-BPCs also provide paths for circulating current. In addition, the AC sub-grid may operate under unbalanced conditions due to the consumption of single-phase loads and power electronic devices. In addition, unbalanced three-phase voltage deteriorates the generation of circulating current. In this paper, an adaptive virtual impedance control method based on second-order generalized integration (SOGI) is proposed to suppress circulating current on the basic analysis of circulating current generation mechanism, the equivalent model establishment, and the suppression principle. The virtual impedance is dynamically adjusted in real-time based on the power oscillation caused by unbalanced voltage. Moreover, an integral term is added to the reactive power droop control to realize the tracking of voltage without static error. Finally, the effectiveness and feasibility of the proposed control algorithm are verified by experiments. The research results show that the proposed control method can optimize the damping characteristics, reduce the voltage difference between the BPCs, and improve the current sharing effect.