A comparative study was performed on two types of plug-in hybrid electric vehicles (PHEVs): the GM Volt and the Toyota Prius Plug-in Hybrid. First, the powertrain models of the two vehicles were derived. Based on the dynamic models, a detailed component control algorithm was developed for each PHEV. Specifically, a control algorithm was proposed for motor generator 1 (MG1) and MG2 to achieve optimal engine operation. Additionally, an energy management strategy for selecting the operation mode was developed from the viewpoint of fuel economy, battery state of charge and vehicle velocity. Using the dynamic model of the control algorithm for each PHEV, simulations were performed, and the simulation results were verified by comparing them with those obtained using the Powertrain System Analysis Toolkit simulator for the plug-in Prius. Based on the simulation results, a comparative study was performed, and it was found that the role and capacity of MG1 and MG2 and the mode selection algorithm must be determined depending on the configuration of the PHEV.