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This paper proposes a model to realize the coordinated optimal dispatch of wind-solar-hydro-thermal hybrid power generation system, aiming at minimizing the power generation cost of thermal generators and maximizing the water storage value of hydropower stations at the end of the scheduling periods, while considering the dynamic frequency response of wind/solar/hydro/thermal generators. Considering the virtual inertia and droop control of wind farms and PV stations, the dynamic frequency response model of wind-solar-hydro-thermal multi-energy complementary system is derived and the metrics that evaluate the frequency dynamic characteristics of the generation system are presented. Then the dynamic frequency response constraints are incorporated into the traditional optimal scheduling model and the Mixed Integer Linear Programming (MILP) method is used to solve it. Finally, the validity and applicability of the proposed model are verified by simulation examples.