The disclosure provides a power system vulnerability analysis method in consideration of information physical joint attack. When the primary equipment (generator, transformer, transmission line and the like) of the grip in a certain area is physically destroyed, stops operation, and causes changes in the topological structure of the grid, problems such as power flow transfer, branch out-of-limit power and power imbalance of the power system possibly occurs. If the information system suffers an information attack at this time, it is determined that a power dispatching center loses an optimization adjustment capability, the grid proportionally adjusts power generation and consumption power to ensure the power balance, and the out-of-limit branch is cut off by a relay protection device. If the information system does not suffer an information attack, after the destroyed equipment is shut down, the power dispatching center performs optimization with the minimum load loss as a goal, and performs adjustment and control from the power supply side and the load side to eliminate the branch out-of-limit power while ensuring the power balance of the grid.