The invention provides a hydraulic hybrid regeneration braking system based on double energy accumulators and a control method, and belongs to the technical field of hybrid vehicles. The braking system comprises a braking unit, a hybrid unit and a control unit, the braking unit comprises a hydraulic regeneration braking unit and a mechanical braking unit, the hydraulic regeneration braking unit comprises a first high-pressure energy accumulator, a second high-pressure energy accumulator, a throttling valve, a one-way valve, a two-position three-way solenoid directional valve, a secondary element hydraulic pump/motor, an overflow valve and a low-pressure energy accumulator, the hybrid unit comprises a main speed reducer, an electromagnetic clutch, a torque coupler, a gearbox and an engine,and the control unit comprises a controller, an accelerator pedal angle displacement sensor, a brake pedal angle displacement sensor, an energy accumulation sensor, an engine ECU (electronic control unit), a speed sensor and a secondary element hydraulic pump/motor pressure sensor. The system improves the problems of insufficient braking force and low energy recovery rate of a hydraulic regeneration braking unit, and the torque of an engine and the torque of the hydraulic regeneration braking unit are reasonably distributed, so that the engine works in a high-efficiency area.