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The hybrid AC-DC microgrid (HMG) architecture has the merits of both DC and AC coupled structures. Microgrids are subject to intermittence when the renewable sources are used. In the HMG, since power fluctuations occur on both subgrids due to varying load and unpredictable power generation from renewable sources, proper voltage and frequency regulation is the critical issue. This article proposes a unique method for operating a microgrid (MG) comprising of PV array, wind energy system (WES), fuel cell (FC), and battery in HMG configuration. The control scheme of the interlinking converter (ILC) regulates frequency, voltage, and power flow amongst the subgrids. Power management in the HMG is investigated under different scenarios. Proper power management is accomplished within the individual subgrids and among the subgrids by the control techniques adopted in the HMG. The system voltage and frequency deviations are found to be minimized when the FC system acts as the backup source for DC subgrid, reducing the power flow through the ILC.