To perform the reasonable traffic structure in the historical districts and effectively alleviate the contradiction between limited traffic supply and rapid growth of the traffic demand in historical districts, a dynamic game model of traffic competition is established in this paper, aiming at the green transportation and sustainable development. Firstly, the logit model reflecting the sharing rate of the traffic mode is established by using the generalized cost method to quantify all the factors that influence the travel mode selection. Accordingly, a dynamic game model of complete information is established for the trip mode of historical districts, taking into account the economic sustainability, environmental sustainability, and social sustainability of the traffic development. The model is based on the goal of maximizing the generalized profit, and modeling with environmental pollution, energy utilization, and road service level as the common constraints of various traffic modes. By iterating the Nash equilibrium solution of the model, the optimal structure and the optimal share of the traffic modes in the historical districts can be predicted. Finally, the model presented in the study is verified by the historical districts of Academy Street in Zhengzhou city, China, and the optimal structure and optimal traffic share of each traffic mode in the block are obtained. By changing the constraint conditions of the model, two sets of different governance policies are compared and analyzed, and some feasible suggestions on improvement of traffic structure are also put forward. The research results can be the important reference for traffic planning in historic districts.