In order to improve the operating and regulation characteristics of the hydropower unit and to stabilize the load fluctuations, variable-speed pumped storage technology based on converters has been proposed and given more attention recently. However, different from the conventional units, due to the variability of operation conditions, variable-speed units need to develop a load optimization strategy in terms of operating parameter identification to ensure state matching for operation. Therefore, this paper proposes an optimization search step based on the model test curve, and the process of parameter optimization search is elaborated and calculated in the turbine operating condition and pump operating condition, respectively. A mathematical model of the turbine regulation system is established to analyze the influence of speed and guide vane related parameters on the regulation characteristics, and the achievable operating range and regulation capacity in the variable-speed condition is pointed out based on pump-turbine model test, as well as the advantages over the fixed-speed operation. The results show that by applying the load optimization method, the variable-speed unit can be significantly improved in terms of operating efficiency, especially at low head and low power conditions. Meanwhile, a certain range of active power regulation can be realized by the decoupling control of the converter and measuring the guide vane opening in both modes. The analysis of the model test verifies the effectiveness of the variable-speed regulation operation of pump-turbine and provides a reference for the design and operation of the variable-speed hydropower units.