The optimization of high-occupancy vehicle (HOV) lane management can better improve the efficiency of road resources. This paper first summarized the current research on HOV lane implementation and analyzed and identifies the threshold of setting road HOV lane dynamic control under the connected vehicle environment. Then, the HOV lane priority dynamic control process was determined, and the operating efficiency and energy consumption evaluation method was proposed. Moreover, a case study in Wuxi City, China, was carried out. The results showed that, after implementing the HOV lane priority dynamic control, the total mileage of road network vehicles was saved by 4.93%, the average travel time per capita was reduced by 4.27%, and the total energy-saving rate of road network travel was 21.96%.