A power-split hybrid electric vehicle with a dual-planetary gearset is researched in this paper. Based on the lever analogy method of planetary gearsets, the power-split device is theoretically modeled, and the driveline simulation model is built by using vehicle modeling and simulation toolboxes in MATLAB. Six operation modes of the vehicle are discussed in detail, and the kinematic constraint behavior of power sources are analyzed. To verify the rationality of the modeling, a rule-based control strategy (RB) and an adaptive equivalent consumption minimization strategy (A-ECMS) are designed based on the finite state machine and MATLAB language respectively. In order to demonstrate the superiority of A-ECMS in fuel-saving and to explore the impact of different energy management strategies on emission, fuel economy and emission performance of the vehicle are simulated and analyzed under UDDS driving cycle. The simulation results of the two strategies are compared in the end, shows that the modeling is rational, and compared with RB strategy, A-ECMS ensures charge sustaining better, enables power sources to work in more efficient areas, and improves fuel economy by 8.65%, but significantly increases NOx emissions, which will be the focus of the next research work.