A b s t r a c tWe present a free energy model for fluid hydrogen at high-density and hightemperature. This model aims at describing pressure dissociation and ionization, which occur in partially ionized plasmas encountered in the interiors of giant planets and low-mass stars. The model describes an interacting mixture of H2,H,H + and e~ in chemical equilibrium. The concentrations of H 2 + and H~ ions are found to be negligible for equation of state purposes. Our model relies on the so-called chemical picture approach, based on the factorization of the partition function into translational, internal and configurational degrees of freedom. The present model is found to be unstable in the pressure-ionization regime and predicts the existence of a first-order plasma phase transition ( P P T ) which ends up at a critical point given by T c = 15300 K, P c = 0.614 Mbar, and p c = 0.35 g e m -3 . The transition occurs between a weakly ionized phase and a partially ionized (~ 50%) phase.Nous presentons un modele d'energie libre pour l'hydrogene fiuide a haute densite et haute temperature. Le but de ce modele est de decrire la dissociation et l'ionisation en pression, telles qu'elles se produisent dans les plasmas partiellement ionises rencontres a l'interieur des planetes geantes et des