Electric vehicles have developed rapidly in recent years due to their advantages in energy saving and emission reduction, but their disorderly charging will lead to“peak on peak”in system load. Under the incentive of time -of -use price, the orderly charging and discharging of electric vehicles will also cause newpeak - valley difference. In order to solve the problem, the idea of master - slave game is used and an optimization model of virtual power plant with electric vehicles based on dual incentives of time-of - use price and carbon quota is proposed. Firstly, the concept of equivalent load, and formulates dual incentive policies are introduced based on the equivalent load to guide electric vehicles to discharge at peak times and charge at valley times. The virtual power plant is in the main position as the maker of incentive policies, the maximum benefit of virtual power plant are taken as the optimization objectives. The electric vehicle as the recipient of the incentive policy is in the subordinate position, the minimum cost of electric vehicle are taken as the optimization objectives. Finally, finding the Nash equilibrium solution of the established optimization model, and compared with only considering the time -of -use priceincentive. The calculation example shows that use of dual incentive policies can improve the overall benefits of virtual power plants and electric vehicles, and it can avoid the occurrence of newpeak-valley difference.