This paper proposes a coordinated frequency regulation strategy for grid‐forming (GFM) type‐4 wind turbine (WT) and energy storage system (ESS) controlled by DC voltage synchronous control (DVSC), where the ESS consists of a battery array, enabling the power balance of WT and ESS hybrid system in both grid‐connected (GC) and stand‐alone (SA) modes. The newly developed GFM framework, i.e., DVSC, is adopted in both WT and ESS, which utilizes DC voltage dynamics for synchronization purposes. In this paper, the GC mode and SA mode are transferred by changing the status of the series‐connected switch, and it is necessary to meet the grid connection conditions when the system is transferred to the GC mode, namely, voltage, frequency, and phase sequence. For the GC mode, the inertia response from WT can be realized using the reserved energy of the DC capacitor, while the ESS serves to eliminate the steady‐state frequency deviation and reduce the DC voltage fluctuation of WT using the designed secondary frequency regulation scheme. For the SA mode, the proposed strategy can keep the power balance without external power sources. The small‐signal model of the WT and ESS hybrid system is derived. The stability analysis in both GC and SA modes is fully conducted utilizing the modal analysis method, where the impacts of control parameters on stability are assessed. The performance of the proposed strategy in a weak system is evaluated. Simulation studies are carried out under various power system contingencies to verify the effectiveness of the proposed strategy and validate the correctness of the theoretical analysis.