In this paper, an innovative closed hydraulic wind turbine with an energy storage system is proposed. The hydraulic wind turbine consists of the wind rotor, the variable pump, the hydraulic bladder accumulator, the variable motor, and the synchronous generator. The wind energy captured by the wind rotor is converted into hydraulic energy by the variable pump, and then the hydraulic energy is transformed into electrical energy by the variable motor and generator. In order to overcome the fluctuation and intermittence shortcomings of wind power, the hydraulic bladder accumulator is used as an energy storage system in this system to store and release hydraulic energy. A double-loop speed control scheme is presented to allow the wind rotor to operate at optimal aerodynamic performance for different wind speeds and hold the motor speed at the synchronous speed to product constant frequency electrical power regardless of the changes of wind speed and load power. The parameter design and modeling of 600 kW hydraulic wind turbine are accomplished according to the Micon 600 kW wind turbine. Ultimately, time-domain simulations are completed to analyze the dynamic response of the hydraulic wind turbine under the step change conditions of wind speed, rotor speed input, and load power. The simulation results validate the efficiency of the hydraulic wind turbine and speed control scheme presented, moreover, they also show that the systems can achieve the automatic matching among turbine energy, accumulator energy, and generator output energy.