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Because of the long driving range and good power performance, plug-in hybrid electric vehicles (PHEV) have drawn much attention. And the current fuel-saving effect of PHEV still has a lot of room for improvement. The complex powertrain structure of PHEV makes the requirements for control strategy be increasing. Therefore, it is crucial to develop an efficient control strategy to ensure that the PHEV operates at optimal performance with an improved driving range. This paper establishes a mathematical model for fuel economy control of PHEV, by treating the torque distribution problem as a multi-stage decision optimization problem, and establishes a global energy management strategy based on a dynamic programming (DP) algorithm. Based on the actual physical model, this paper creatively solves the correction range of battery SOC value according to the charge and discharge power of the motor, which greatly reduces the calculation time of the DP algorithm.