The hybridization of power systems offers the low-emission and energy-efficient marine vessels. However, it increases the complexity of the power system. Design, analysis, control, and optimization of such a sophisticated system require reliable and efficient modeling tools to cover a wide range of applications. In this work, a typical DC hybrid power system model is developed using a bond graph modeling approach. Necessary component models of varying degrees of fidelity are developed and integrated to build a system model with reasonable accuracy. The developed system model, along with the rule-based energy management system, is used to simulate the entire system and to investigate the load-sharing strategies as well as the system stability in various operating scenarios. Moreover, the simulation results are validated with experimental results conducted on a full-scale laboratory setup of DC hybrid power system and with a ship load profile. The results show that the system model is capable of capturing the fundamental dynamics of the real system. The hybrid power system model is further used to analyze the bus voltage deviation from its nominal value. The computational efficiency presented by the system is fairly good as it can simulate faster than real-time. The developed system model can be used to build up a comprehensive simulation platform for different system analysis and control designs. Index Terms-Marine hybrid power systems, onboard DC power systems, modeling, stability, power and energy management I. INTRODUCTION T HE International Maritime Organization (IMO) has proposed stringent regulations to reduce emissions and improve energy-efficiency from the shipping industry. The energy-efficiency, low-, zero-emission, and innovative technologies are being investigated to comply with the regulations [1]. The energy storage device (ESD) based zero-emission vessel is still challenging for all types of marine vessels due to the low energy density of ESDs [2], [3]. The low energy density of ESD is compensated by the conventional Manuscript