Grid-forming-type energy storage is a key technology for addressing the large-scale integration of renewable energy and achieving the goals of carbon neutrality. Virtual Synchronous Generator (VSG), due to its inertia support function, is currently the most focused grid-forming control method. Adopting a Hybrid Energy Storage (HES) to realize VSG can maximize the advantages of different types of energy storage, improve system’s frequency and inertia response capabilities and extend the life of energy storage. This paper focuses on the design, modeling, and analysis of the coordinated power control strategy for a grid-connected hybrid energy storage system based on VSG (VSG-HES). Firstly, the coordinated power control strategy for the system is proposed, achieving the rational coordinated allocation of VSG power between power-type and energy-type energy storage, allowing the battery to handle VSG steady-state command power and primary frequency regulation power, while the supercapacitor undertakes VSG inertia response power. Meanwhile, it ensures the DC bus voltage stability. Furthermore, a simplified active power response model of VSG-HES under the proposed coordinated power control strategy is derived. Coordinated control parameters are designed. Finally, the effectiveness of the proposed control strategy and the rationality of control parameter design are verified through simulation.