The power-split hybrid electric vehicle achieves excellent fuel economy because both the engine speed and the torque of this system are decoupled from the road load. However, for a power-split hybrid electric vehicle with multiple power sources, the inconsistency of the response characteristic of each power source seriously affects the stability control of the power system and riding comfort, so the coordinated control of the power system is particularly important. This article proposed a dynamic coordinated control strategy. First, extended Kalman filter is applied to realize robust online estimation of the engine dynamics. Then, an extended Kalman filter–based and model predictive control–based dynamic coordinated control strategy is designed to achieve accurate reference tracking in hybrid electric mode. Considering the real-time performance for the online application of the dynamic coordinated control strategy, a fast model predictive control solver is formed based on a reasonable assumption. Offline simulation results show that accurate reference tracking is achieved in hybrid electric mode. Hardware-in-the-loop simulation is also conducted to validate the real-time performance of the proposed dynamic coordinated control strategy. This study is expected to improve the performance and robustness of the dynamic coordinated control strategy in hybrid electric mode while reducing the calibration load.