With the continuous clarification of China’s requirements for the construction of new power system, the construction of VPP has been widely concerned by the industry. However,in the process of large-scale construction and operation of VPP, the factors influencing the economic benefits under the market environment have not been fully studied. Aiming at this problem, the construction investment costs, operation costs and incomes of VPP are sorted out, and the economic benefit model of VPP is constructed. Furthermore, from the perspective of market income, the sensitive factors are selected and the economic benefit analysis method of VPP participating in different market trading varieties is propose. Finally, example varifications are given, and the variation trend of economic benefit of VPP under different sensitive factors is discussed. The results can provide objective evaluation method support for VPPs to recover costs reasonably and effectively and participate in market transactions under new power system market environment.