For a dual-bus direct current (DC) microgrid adopting the conventional droop control, there are some limitations in voltage control performance and power distribution accuracy. For this reason, a voltage-power coordinated control strategy considering the state-of-charge (SOC) equalization of energy storage is proposed. First, for voltage stability and power distribution at the high-voltage (HV) or low-voltage (LV) side, on the basis of voltage/current dual-loop control strategy, an adaptive coefficient based on the SOC power exponent is used to adjust the power distribution ratio dynamically to realize precise control of voltage and power. Second, for the voltage offset of the two DC buses caused by the power imbalance, the control strategy of the DC/DC converter between the HV/LV buses is formulated according to the voltage difference between the two DC buses and the operating mode at the HV/LV side. In this way, power balance and voltage stability at the HV/LV side are guaranteed. Finally, Matlab/Simulink software is used to establish the dual-bus DC microgrid model for simulation verification. Results show that the proposed control strategy can improve the accuracy of power distribution and voltage control, make the SOC of multiple energy storage units converge to a consensus level, and realize power support between the HV/LV DC buses.