According to the working condition of high-horsepower tractors, a hydraulic mechanical continuously variable transmission (HMCVT) suitable for plug-in hybrid tractors is designed. Taking the tractor with this transmission as the research object, a global optimization model of equivalent factor is established to improve the control effect of the Equivalent consumption minimization strategy (ECMS); and then used genetic algorithm to optimize the equivalent factor S off-line to obtain the best correction coefficient MAP of different operating mileage and the initial value of battery State of Charge (SOC). Then based on the optimal correction coefficient map, the ECMS strategy based on equivalent factor optimization is established. Considering the efficiency of the power battery, motor and other components, the power distribution between the diesel engine and the motor under the optimal equivalent factor is obtained. The effectiveness of the control strategy is verified by MATLAB/Simulink and hardware-in-the-loop tests, and the fuel economy of tractors is improved by 2.939% and 3.909% respectively in the two tests.