Concerning the sub‐synchronous oscillation induced by the interaction among wind power converter, flexible DC converter and multiple control links, a method to study the oscillation transmission path based on dynamic energy flow is proposed. First, the system is divided into several subsystems according to different control links, and the dynamic energy model of each subsystem is built by using the first integration method. Then, the energy flows induced by different control links are determined according to the corresponding oscillation components. On this basis, the intersection of energy flows in each dynamic energy model is defined as an energy converging point. Thus, the energy flows between different energy converging points are obtained, and the oscillation transmission path of the interconnected system between different subsystems is determined. Finally, combining the parameters of a real direct‐drive wind farm transmitted via flexible DC system, a test system is built in RT‐LAB for simulation verification. The results show that the proposed method can describe the oscillation transmission paths between different control links quantitatively, and reveal the control links that make against the stability of system. Besides, studying the energy distribution in the oscillation transmission paths can contribute to further research on the control parameter setting and energy suppression, and lay the theoretical foundation for the design of supplementary compensation branches.