Conventional energy storage systems have high investment costs, long payback periods, and cannot be applied on a large scale in park level systems. In response to this issue, an integrated energy system in the park is established firstly, which includes hybrid virtual energy storage such as electric vehicles, air conditioning, and heating network pipelines. Moreover, the operating mechanism of the system is also analyzed. Relevant models for system and virtual energy storage are constructed. Secondly, based on correction indicators such as peak valley difference and external grid interaction scale, a hybrid virtual energy storage incentive mechanism considering dynamic time of use prices is proposed. Then, under the carbon cycle mechanism of waste incineration cogeneration flue-gas treatment-P2G, a low-carbon operation optimization model for the integrated energy system in the park is constructed with the goal of maximizing profits. Finally, a case study is performed on an integrated energy system in a certain region, and the results show that, operation optimization considering hybrid virtual energy storage can reduce external grid interaction costs. A hybrid virtual energy storage incentive mechanism considering dynamic time-sharing prices can improve the enthusiasm of virtual energy storage entities to respond to system scheduling. Considering the carbon cycle mechanism of waste incineration cogeneration flue-gas treatment-P2G can increase net revenue.